Jindal Steel & Power updates on coal block auctions

Jindal Steel & Power announced that as per media reports auction prices of some coal blocks are under re-examination. JSPL has not received any communication from the government with regard to the re-examination of Gare Palma IV/2 & IV/3 or Tara coal blocks which have been won by its subsidiary Jindal Power (JPL).

The recent coal block auctions were conducted through a transparent & fair bidding mechanism, which involved two stages of qualification. More than 10 bidders including Jindal Power participated in the auction for each of these mines.

As per the MSTC website JPL was the winning bidder with regard to the above mentioned coal blocks. JSPL believes that the Government will respect the outcome of these successfully conducted auctions.