Coal Ministry for strict norms on new block bids

Mumbai : Companies allotted coal blocks but having failed to do much on developing these are to be barred from participating in the proposed competitive bidding process for future allotments. Besides, power projects already set up or under construction on the basis of coal being a “pass through” item of cost would not be allowed to participate. However, a bidding consortium with a mining company as its member would be given preference in the allotment of a coal block, if its bid is within 10 per cent of the highest offer and is prepared to match it.