Chandigarh: Punjab government on Thursday received bids worth Rs 101 crore against the reserve price of Rs 4 crore during the auction of sand quarries in four districts of the state.

The auction of 337.96 acres of an area falling in 8 sand quarries was conducted for Jalandhar, Ajitgarh, Kapurthala and Ludhiana in Chandigarh on Thursday.

Stating that complete transparency was maintained in the auction of sand mines, Punjab Industry Minister Anil Joshi said, "The mines of only four districts of Jalandhar, Ajitgarh, Kapurthala and Ludhiana were auctioned and there have been bids to the tune of Rs 101 crore against the reserve price of Rs 4 crore in the first  phase".

Maximum amount of bids were received for a sand mine in Ajitgarh where bidder quoted whopping Rs 34.25 crore for 29.12 acres of sand mine against the reserve price fixed at Rs 90 lakh. Bid amounting to Rs 26.52 crore was received in Kapurthala, Rs 22.12 crore in Jalandhar and Rs 18.20 crore in Ludhiana.

The next phase of auction will take place on Friday for 22 sand mines located in Hoshiarpur.

(Agencies)

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