Coal India fuel allocation under spot e-auction rises 36% in Apr-Feb 2020-21

Coal India is also looking to merge e-auction windows to move toward a ‘one price for one coal grade’ system.bloomberg (MINT_PRINT) — Coal India is also looking to merge e-auction windows to move toward a ‘one price for one coal grade’ system.bloomberg **(MINT_PRINT)**

1 min read . Updated: 14 Apr 2021, 06:40 PM IST PTI

Coal India Ltd (CIL) had allocated 27.30 MT of coal in the April-February period of FY 2019-20

New Delhi: State-owned CIL allocated 37.21 million tonnes of coal during the April-February period of FY20-21 under spot e-auction scheme, registering a year-on-year increase of 36.3 per cent.

Coal India Ltd (CIL) had allocated 27.30 MT of coal in the April-February period of FY 2019-20, according to government data.

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Fuel allocation by CIL under the scheme also increased to 4.41 MT in February, from over 3.31 MT in the corresponding month of 2019-20, it said.

Coal distribution through e-auction was introduced with a view to provide access to coal for such buyers who are not able to source the dry fuel through the available institutional mechanism, according to CIL website.

The purpose of e-auction is to provide equal opportunity to all intending buyers for purchasing coal through single window service.

Coal India accounts for over 80 per cent of domestic coal output.

The company is eyeing one billion tonnes of coal output by 2023-24.

State-owned CIL will pump in over ₹1.22 lakh crore on projects related to coal evacuation, exploration and clean coal technologies by 2023-24, to achieve 1 billion tonnes of fuel output target, Coal Minister Pralhad Joshi had earlier said.

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Out of the proposed spend of over 1.22 lakh crore, CIL has planned to invest ₹32,696 crore on coal evacuation, ₹25,117 crore on mine infrastructure and ₹29,461 crore on project development by 2023-24, the minister had said.

He had added that the state-owned company will also invest ₹32,199 crore on diversification and clean coal technologies, ₹1,495 crore on social infrastructure and ₹1,893 crore on exploration works. PTI SID MKJ

This story has been published from a wire agency feed without modifications to the text.

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