Essar Power has won the Tokisud North coal block in Jharkand for Rs 1,110 per tonne. This is a record for blocks awarded to the regulated power sector.
The block, which has reserves of 51.97 million tonne, was earlier allocated to GVK. Essar plans to use coal from the mine for its Mahan power plant.
At the time of filing this report, bidding for Gare Palma IV/5 was still on. Bidding had reached Rs 2,050 per tonne, with bidders being Monnet Ispat, Balco, Hindalco, Sesa Sterlite among others.
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