The Union Government has urged the Odisha Government to expedite the process of auctioning of the iron ore mines.
Sources said Union Mines Secretary Balwinder Kumar, who called on Chief Minister Naveen Patnaik and Chief Secretary GC Pati here on Monday, underscored the need for such auctioning without further delay.
While the Union Coal Ministry has succeeded in auctioning coal blocks across the country and generated a whopping `2 lakh crore of revenue, Balwinder Kumar is understood to have underscored an acceleration process of the iron ore auction in Odisha.
The Centre is prepared to extend all possible assistance to the State Government in expediting the iron ore mines auction process, Kumar told the Chief Minister.
The Ministry of Mines is also going to bear the cost of engaging the SBI Capital as the Transaction Advisor for carrying out auction of iron ore mines in the State, he added.
However, sources in State Government feel that as the price of iron ore in international market has gone down substantially, auctioning at this stage would not be prudent as it would fetch much less revenue to the State due to low bidding.