GMDC bids for 4 coal blocks in Chhattisgarh, MP

Ahmedabad, Apr 30 (UNI) The state owned Gujarat Mineral Development Corporation (GMDC) has bid for four coal blocks in Chhattisgarh and Madhya Pradesh, GMDC Chairman and Managing Director Sudha Anchalia said today.

''These coal blocks are spread over 150 sq km of area with proven reserves of 2,000 Million Metric Tonnes (MTT). While, Morga-I and II block is in Chhattisgarh (600 MTT), Dongrital-I and II, Mara-II Mahan (955 MMT) and Chhattarsal (100 MMT) are in MP,'' she said.

The company has also bid for 23 prospecting leases during the last fiscal, mainly for lignite, bauxite and some minor minerals -- all in Gujarat, Ms Anchalia said.

GMDC has recieved environmental clearance for 11 mining leases and forest clearance, including Tadkeshwar and Rajpardi lignite mines. Production commenced in these mines from November 20 last year and April 20 this year respectively. Tadkeshwar has proven reserves of 30 MMT and Rajpardi 14 MMT.

The company has also set up a Rs 55-crore plant to expand its calcined bauxite up to 1.25 MMT and convert the same into brown fused alumina near its Ghadsisa plant. There is a value-addition of Rs 15,000 per tonne in the process, she said.

In another major initiative, she said it proposes to start mining of limestone for commercial purpose in Kutch, having reserves of over 1,500 MMT. At present, GMDC mines limestone for captive use as additives to reduce sulphur and nitorgen contents for its power plant at Akrimota in Kutch district.

Talking about the company's just declared unaudited result for 2005-06, she said, it posted a 17.5 rise in sales to Rs 433.89 crore from Rs 369.25 crore, 43.42 per cent rise in Profit Before Tax (PBT) to Rs 241.67 crore from Rs 168.51 crore and a 110 per cent increase in Profit After Tax (PAT) to Rs 220.43 crore from Rs 103.73 per cent over the last one year.

Ms Anchalia expects the company's performance to improve further with the 250 MW lignite-based power plant becoming fully operational next month. It has drawn up plans to expand its capacity by another 250 MW plant at a cost of Rs 1,200-crore by 2007-08.

UNI VKC PP CS HT1122