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Jindal Steel’s bid for coal block in Chhattisgarh rejected, say sources

Updated : December 16, 2019 01:40 PM IST

The allotment of the Gare Palma IV/I to JSPL was rejected in public interest, said sources. 
JSPL had emerged as the highest bidder for the coal block with a bid of Rs 230 per tonne, a premium of 53 percent over the reserve price of Rs 150/tonne.
Reserve price for the mine was Rs 150/tonne and closing bid price was 55 percent higher than reserve price and third-highest in the 6 coal blocks auctioned in the recent tranche.
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