Jindal Power Limited emerged as highest bidder for the Gare Palma IV/1 coal block in Chhattisgarh.
The company offered a 25 per cent revenue share for the Gare Palma IV/1 with geological coal reserves of 84 million tonnes and peak capacity of six million tonnes per annum. The block is it estimated to generate Rs 6.52 billion revenue upon reaching peak rated capacity. Before coal block deallocation in 2014 this mine was operated by Jindal Steel and Power Limited. Other bidders in the fray for the block were Adani Enterprises and Hindalco Industries.