The government of the eastern Indian state of Odisha will auction five iron ore blocks in October this year, a government official said on Friday, August 4.
The official said that the Geological Survey of India (GSI) is expected to complete the mandatory G3 level exploration of the five iron ore reserves by the end of September this year and as a result the Odisha government will shortly commence the auction process, with bidding to be opened in October. He also said that there had been delays of a few months in holding the auction as GSI which started G3 level of exploration in 2016-17 took time in completing the process.
Details of iron ore reserves available in the block will be announced once the bidding documents are ready for offer to prospective bidders, the official added.
So far, the Odisha government has successfully auctioned three iron ore blocks in the state, with Essar Steel, Bhushan Steel Limited and Bhushan Power Limited being the successful bidders.