(MENAFN- IANS) New Delhi, Aug 1 (IANS) Union coal Minister G. Kishan Reddy on Thursday handed over 10 strategically important mines to successful bidders in an initiative that is expected to result in a significant increase in the production of coal in the country.
The vesting orders for mining rights issued to the allottees include one fully explored and nine partially explored mines. The initiative is set to enhance energy security and drive economic growth across the states of Jharkhand, Chhattisgarh, West Bengal, and Madhya Pradesh, according to an official statement.
These 10 mines have the potential to substantially contribute to the nation's energy security and industrial growth. Furthermore, these mines hold a substantial 2,395 MT geological reserve, indicating a robust foundation for sustained coal production. These mines are expected to generate an annual revenue of Rs 166.36 crore and will attract a capital investment of Rs 150 crore.
They will provide employment to 1,352 people, both directly and indirectly.
In his keynote address, Kishan Reddy urged the successful bidders to focus on increasing coal production and reducing imports. He also emphasised the need for prioritising environmental sustainability and responsible land management.
The minister highlighted the importance of enhancing the green cover, adhering to strict safety standards, and actively contributing to the social welfare of local communities, including healthcare, drinking water, and education. He also called on bidders to build strong community relationships and ensure the long-term success of the coal sector through effective environmental conservation practices.
In his remarks on the occasion, Minister of State for Coal Satish Chandra Dubey emphasised the importance of integrity and diligence in the sector. He also highlighted the need for sustainable mining practices and the welfare of local communities residing near coal mining areas.
Coal Secretary Amrit Lal Meena congratulated all the successful bidders and urged them to expedite the coal block operationalisation, assuring assured full support of the Ministry. He also urged bidders to prioritise environmental responsibility and sustainability in their operations. He emphasised the need for innovative approaches to reduce ecological impact, while enhancing coal production.
The vesting of these mines aligns with the government's vision of achieving self-reliance in the coal sector, reducing dependency on imports, and ensuring a steady supply of coal to meet the country's growing energy demands. The development of these mines will not only contribute to regional economic development but also support infrastructure growth and community welfare, the official statement added.
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