DVC Wins Big in Coal Auction: A Boost for India's Self-reliance

Damodar Valley Corporation has secured three coal blocks in the 13th commercial mines auction. These blocks are set to generate Rs 4,621 crore annually, promote Rs 7,350 crore in investments, and create over 66,000 jobs. This move enhances India's domestic coal production and aligns with self-reliance goals.

State-owned Damodar Valley Corporation (DVC) emerged as the highest bidder in the recent 13th commercial mines auction, successfully acquiring three coal blocks, according to an official statement.

DVC's successful bid includes two non-coking coal blocks in Jharkhand and a non-coking coal mine in Odisha. These mines are pivotal for power generation and industries like cement and fertilizer manufacturing.

The newly acquired blocks are expected to generate annual revenues of Rs 4,620.69 crore, attract capital investments worth Rs 7,350 crore, and create significant employment opportunities for 66,248 individuals, the Ministry of Coal stated.

(With inputs from agencies.)