Bhubaneswar: The state government has set the October-end target to sign the recent nine-mine rental act.
Officials in the State Steel Department and the mine said that successful bidders have deposited payment upfront around Rs 250 Crore, a prerequisite for signing rent.
“We will immediately begin the process of signing the rental law and completing it at the end of this month,” a senior government official confirmed.
The state government in July issued a notification for auction of nine different blocks.
Bloks, who were successfully auctioned, including Kasia, Nadidih (Bico), Nadidih (FeeGrade), Pureibahal, Chandiposhi, Jumka, Dholtapahar, Netrabandha Pahar (West) and Gandhalada.
The main players in the steel and mines sector such as JSPL, Rungta Mines Limited, Tata Steel Mining Limited and the subsidiary of Vedanta Limited ESL Steel was declared as a successful bidder.
The state government has been greatly reproduced to the mining sector to increase its economy because it contributes Lion’s shares to the overall collection collection.
In the first six months of the current financial year, a collection of overall income from the mining sector is estimated at RS 19,000 Crore, growth of 200% compared to the period in accordance with the previous fiscal.
At the end of the year, the total income collection from this sector is estimated to touch around RS 40,000 Crore.