NMDC e-auctions pellets for the first time
The Dollar Business Bureau NMDC, India's single largest producer of iron-ore had for the first time put up iron-ore pellets for commercial sale on Nov 15. The sale was conducted via e-auction by NMDC. The pellets which were manufactured at NMDC's Donimalai plant Bellary, ranging in size from 6-16mm were placed in 12 different lots of 1000 MT each. According to market sources, the auction received a good response with the base price of the pellets hovering around Rs.5219/MT (basic). Market sources confirmed that parties outside the state of Karnataka showed a keen interest, as a result, the bids went up by Rs.50/MT and the entire quantity was sold. Information on the same remains to be confirmed as the bid sheets have not been made ...
Govt to launch National Mineral Exploration Policy
The Dollar Business Bureau The government would soon launch the National Mineral Exploration Policy (NMEP) to incentivise participation of the private sector companies in mines exploration. Ministry of Mines on Monday said India is blessed with large mineral resources and possesses geological environment similar to many other countries including Australia, South Africa, and South America. But since exploration for deep and concealed deposits is a cost-intensive and risky enterprise which requires expertise and state-of-the-art technology, the government’s efforts need to be supplemented with an active participation of private sector companies which possess technological expertise on par with international companies. As part of the NMEP, the government would engage private sector companies in carrying out exploration, which would, in turn, give the companies rights to share ...
9 revived gas-based plants to augment power capacity
The Dollar Business Bureau Augmenting the country’s existing power capacity, the Ministry of Power, GoI, on Sunday announced that it has revived 9 stranded gas-based power plants. “Government is delighted to announce the revival of 9 stranded gas based power generation plants with an installed capacity of 5942 MW, which were successfully bid through a transparent and competitive reverse e-auction process….” “These plants would generate 6.79 billion units of electricity which will be supplied at or below Rs 4.70 per unit to the purchaser Discoms during the period from 1st April 2016 to 30th September 2016,” the Ministry said in an official release. Plants termed as preferred bidders were allocated 7.62 MMSCMD e-bid Re-gasified LNG(RLNG). The auction that concluded on Sunday ...
Govt to e-auction eight coal mines in January
The Dollar Business Bureau The e-auctions for these mines will be held from January 18, 2016 to January 22, 2016 and the vesting order by the nominated authority to the successful bidder shall be issued by March 10, 2016 The government on Thursday announced the dates for its fourth round of online auction of eight coal blocks in sectors such as steel, cement and iron. “It has been decided to auction eight Schedule- III coal mines earmarked for non-regulated sector i.e. iron & steel, cement and captive power plants in the fourth tranche,” Coal Secretary Anil Swarup said. Three rounds of auctions have already been held and allotted, for which the government has already mobilised over Rs.3 lakh crore. Directions ...
Govt opens tap for securities worth $2.6 bn for FPIs
Source:PTI Foreign Portfolio Investors will be able to invest an additional $2.6 billion (Rs.16,431 crore) from Monday onwards in various government securities, including those of the states. Out of this, investment limits worth about Rs.5,600 crore are being allotted through an e-auction, while the rest would be available on tap. In further opening up, the limits would be enhanced by another Rs.16,600 crore from January 1 ownwards. This follows decisions by the RBI and SEBI earlier this month to allow greater foreign fund flows into the government securities, which are generally favoured by Foreign Portfolio investors (FPIs) over the corporate bonds in India. The cap has been now raised to Rs.1,70,000 crore from Rs.1,53,569 crore previously. As against the previous limit, the ...
