India to put up 17 Coal Blocks for Auction

Platts reported that India has put up for auction 17 coal blocks for exploration, which will be open to state-run companies only.

As quoted in the market report:

State-owned companies will have until January 30 to submit their bids for the offshore blocks, which the ministry said have estimated reserves of 8.5 billion mt. Of the 17 blocks, coal from 14 of the blocks will have to be for captive use at the licensee’s power plants, which will need to have power purchase agreements in place. Coal from the remaining three blocks can be mined and sold to third parties.

To view the whole Platts report, click here.