India Inc is in hot pursuit of coal. Twenty-eight Companies have lined up for developing and running the two coal blocks of MahaGuj Collieries Ltd (MGCL) in Orissa. The Ambani brothers are there, through Reliance Industries and Reliance Energy, respectively. So are groups like Adani, GVK, Indiabulls, Bharat Forge and Jindal Steel. The project entails an investment of Rs 3,500 crore. The successful bidder would have to develop Macchakata and Mahanadi coal blocks and operate the mines for 30 years to produce 900 million tonnes of coal. MGCL, a joint venture of Maharashtra Power Generation Company Ltd (MahaGenco) and Gujarat State Electricity Corporation Ltd (GSECL), had invited bids for the mine developer-cum-operator (MDO) last month. The list of other bidders include Leighton (South Africa), Global Fuel (Singapore), Atlanta (US), Thiess (Canada), Eastern Minerals & Trading Company, Coal India arm Mahanadi Coalfields, Birla-run Essel Mining, Triveni EarthMovers, Essar Minerals, Gupta Coalfields, AMR, Ispat, Sterling Energy, Sun Flak Iron & Steel, Ashok Leyland (together with Gulf Oil), SMS Infrastructure, Sainik Mining, Karamchand Thapar, Oriental Structures, Indu Projects and Naresh Kumar & Co. According to the bid document, the bidder must have at least three years experience in coal mining (including overburden removal, open cast or underground) or mining of lignite, iron ore or limestone. The bidder must have undertaken average annual production of at least 10 million tonnes in the last three years. The bidding company must have a net worth of more than Rs 750 crore as on March 31, 2007. The company must fulfill the annual turnover requirement of a minimum of Rs 4,000 crore each year for the last three financial years (2004-05 to 2006-07). MGCL sources told FE: "The MDO is expected to invest in the mining project and undertake development and operation of the coal mine. The MDO would also be responsible for the supply and delivery of coal at competitive rates to MGCL at specified points of supply.'