Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Gujarat: E-auction in mining sector throws up new entrants and ensures windfall for govt

10 August, 2018 5:01 PM
70 0
Gujarat: E-auction in mining sector throws up new entrants and ensures windfall for govt

The phase-I auctions of granite blocks, closed on Wednesday evening and witnessed Safal Constructions Pvt Ltd and Arun Digital Corporation emerge as winners.

A real-estate developer from Ahmedabad and a businessman from Palanpur were winning bidders in the first ever e-auctions for granite blocks conducted in Gujarat.

The Phase-I auctions of granite blocks, as per a report in The Indian Express, closed on Wednesday evening and witnessed new entrants in the mining sectors such as the Ahmedabad-based Safal Constructions Pvt Ltd and Palanpur-based Arun Digital Corporation. However, it came as a surprise to see the State Government collecting a royalty of an estimated Rs 696 crore for the 30-year lease period.

Source: moneycontrol.com

Share in social networks:

Comments - 0