The Union government has signed deals with NLC India Limited, Gujarat Mineral Development Corporation Limited, and Tamil Nadu Generation and Distribution Corporation Limited for the purchase of three coal mines in the country, a PIB press release stated.
The three mines that have been selected for the auction are Machhakata (Revised) coal mine, Kudanali Lubri coal mine, and Sakhigopal-B Kakurhi coal mine, according to a statement from the Ministry of Coal.
The estimated annual revenue generation from the commercial auction of these three mines is Rs 2,991.20 crore.
The government expects that once these mines become operational, they will provide around 40,560 direct and indirect employment opportunities.
In order to bring these coal mines into operation, the government has also decided to spend around Rs 4,500 crore on investment.
The signing of these deals is a significant step in the country’s efforts to achieve Atmanirbharta (self-reliance) in the coal sector. According to experts, this move will contribute to the country’s economic growth, employment generation, and ensure energy security.