Crest Steel & Power wins Bhaskarapara coal mine in Chhattisgarh

NEW DELHI: Crest Steel and Power Ltd won the Bhaskarapara coal block in Chhattisgarh while Topworth Urja and Metals won Marki Mangli-I coal block in Maharashtra in the third round of coal auctions that began on Tuesday.

Crest Steel’s winning bid, which offered a price of Rs 755 per tonne of coal, pipped Jindal Steel & Power and Godavari Natural. The block, which was previously owned by Ultratech Cement, has about 24 million tonne of coal reserves.

Topworth Urja and Metals offered to pay Rs 715 per tonne of coal extracted from Marki Mangli-I block. The block, which has about 10 million tonne of extractable reserves, was also being eyed by Grace Industries and Lloyd Urja. It was earlier owned by B S Ispat.

The third round of coal auction offers five coal blocks for unregulated sectors like steel and cement.