The Hindu Business Line : Govt receives 14 bids for 8 CBM blocks

The bids have been received from companies like ONGC, GAIL (India) Ltd, Coal India Ltd, Mudra Ispat, Great Eastern Energy Corporation, Reliance Industries Ltd and Gujarat State Petroleum Corporation.

The only foreign company to participate in the bidding process was Tri-star India Trading Company, a wholly owned subsidiary of the US-based Tri-star Petroleum Company.

"Fourteen bids have been received by the Government for exploration of CBM in eight blocks while the block in Andhra Pradesh was the only one that had no bidder till the last bidding day today," the Petroleum Minister, Mr Ram Naik, told newspersons on Wednesday.

The evaluation of the bids would be concluded by January 15 and the Cabinet approval for award of blocks would be granted by February 15, 2004, he added.

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