Odisha government to sign lease deeds of auctioned mines by October-end

BHUBANESWAR: The state government has set a target of October-end to sign the lease deeds of the nine mines auctioned recently.
Officials in the state steel and mines department said the successful bidders have already deposited an upfront payment of around Rs 250 crore, a pre-requisite for signing the lease deeds.
“We will soon initiate the process of signing the lease deeds and complete it by the end of this month,” a senior government official confirmed. The state government had in July issued the notification for the auction of as many as nine different blocks.
The blocks, which were auctioned successfully, include Kasia, Nadidih (Bico), Nadidih (Feegrade), Pureibahal, Chandiposhi, Jumka, Dholtapahar, Netrabandha Pahar (West) and Gandhalpada. The major players in the steel and mines sector like JSPL, Rungta Mines Limited, Tata Steel Mining Limited and Vedanta subsidiary ESL Steel Limited were declared as the successful bidders.
The state government has been banking heavily on the mining sector to boost its economy as it contributes the lion’s share to the overall revenue collection. In the first six months of the current financial year, the overall revenue collection from the mining sector is estimated to be Rs 19,000 crore, a growth of 200% compared to the corresponding period of the previous fiscal.
By the year-end, the total revenue collection from the sector is estimated to touch around Rs 40,000 crore.
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