Punjab govt to conduct e-auction of 102 sand mines on May 19, 20Updated: May 06, 2017 16:31 IST
With prices of sand hitting the roof in the state, the Punjab government will release additional annual sand/gravel to the tune of 2 crore tonnes, through e-auction progressive bidding of 102 mines to address sand scarcity and curb the steep hike in the prices.
The e-auction for these mines will be conducted for registered bidders on May 19 and 20.
The progressive bidding will also mop up revenue of nearly Rs 300 to Rs 350 crore for the state. The rampant illegal mining in the state had shrunk the revenue to Rs 45 crore from the mining business.
The e-auction notification for the grant of the mines was issued on Thursday.
The 102 mines, located in 14 districts across the state, have an annual extractable quantity of nearly 2 crore tonnes and will be auctioned with a reserve price of Rs 170 crore.
Presently, there are 87 operational mines with a total capacity of 1 crore tonne.
The e-auction will be held by Punjab Infotech through a digital platform provided by their technical partners, ITI Ltd. A demonstration training programme for it will be held on May 8 and 9.