New Delhi: The coal ministry on Tuesday said an investor conclave will be held this week in Mumbai in a bid to encourage participation of bidders in the commercial auction of blocks. Coal Minister Pralhad Joshi will chair the conclave to be held on December 1. Maharashtra Chief Minister Eknath Shinde will be the chief guest.
Maharashtra Deputy Chief Minister Devendra Fadnavis will be the special guest, the coal ministry said in a statement. This month, the coal ministry launched the process for sale of 133 coal mines under the sixth round of commercial mines auction. In the first five rounds, 64 coal blocks have already been put on sale.
Under commercial auctions, there is no technical or financial eligibility criteria and hence, several bidders who were not into coal mining earlier, became successful bidders and were awarded the coal mines. (PTI)
