Prime Minister Narendra Modi will address the launching of auction of 41 Coal Mines for Commercial Mining tomorrow. The commencement of this auction process of coal mines for sale of coal is part of the series of announcements made by the Government under the Atmanirbhar Bharat Abhiyan.

Coal Ministry in association with FICCI is launching the process for auction of these coal mines. A two stage electronic auction process is being adopted for allocation of the coal mines. Prime Minister will outline his vision for the country to achieve atmanirbharata in mining sector which is the key source of input for many basic industries like Power, Steel, Aluminium and Sponge Iron.

This auction process marks the beginning of opening of Indian coal sector for commercial mining. It will enable the country achieve self-sufficiency in meeting its energy needs and boost industrial development. In a statement, Prime Minister office said, this landmark step is expected to boost private participation which will increase production, induce competition, enhance productivity by facilitating use of latest equipment, technology and creation of avenues for more employment generation in the backward regions of the country.

This will create employment generation for more than two lakh 80 thousand people. It is expected to generate approximately 33 thousand crore rupees of capital investment in the country over next 5 to 7 years. These mines will also contribute 20 thousand crore rupees revenues annually to the state governments.