State-run NLC India Ltd (NLCIL) on Friday (December 15) said the company bagged the bid for the North Dhadu (Western Part) coal block in Latehar District of Jharkhand.
The successful bid was secured during the commercial coal block e-auction held on August 1, 2023, NLCIL said in a regulatory filing.
"NLC India Limited has emerged as a successful bidder for North Dhadu (Western Part) Coal Block, in Latehar District of Jharkhand under commercial coal block E-auction held on 01.08.2023, for which The Coal Mine Development and Production Agreement (CMDPA) with Ministry of Coal (MoC) was signed on 29.09.2023," the company said.
Following the auction, NLC India Limited formalised its commitment through the signing of the Coal Mine Development and Production Agreement (CMDPA) with the Ministry of Coal (MoC) on September 29, 2023. This agreement solidified the company's responsibility for the comprehensive development and production of the coal block.
On December 14, 2023, in a ceremony at Shastri Bhavan in New Delhi, the Secretary (coal) of the Government of India presented the vesting order to NLC India Limited, formally conferring upon the company the rights and responsibilities linked to the North Dhadu (West) coal block.
NLCIL is a navratna company under the Union Coal Ministry. Shares of NLC India Ltd ended at ₹206.40, down by ₹1.35, or 0.65%, on the BSE.
(Edited by : Shoma Bhattacharjee)
First Published: Dec 15, 2023 5:18 PM IST
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