State-owned Coal India (CIL) allocated 25.78 million t of coal in the first 8 months of this fiscal under a spot e-auction scheme, registering a y/y increase of 59.4%.
CIL had allocated 16.17 million t of coal in the April-November period of the previous fiscal, according to government data.
Fuel allocation by CIL under the scheme also increased to 4.09 million t in November, from over 3.58 million t in the corresponding month of 2019.
Coal distribution through e-auction was introduced to provide access to coal for such buyers who are not able to source the dry fuel through the available institutional mechanism.
The purpose of e-auction is to provide equal opportunity to all intending buyers for purchasing coal through single window service.
CIL accounts for over 80% of domestic coal output. It has revised its production target to 650 – 660 million t for the current fiscal in the wake of the disruptions caused by the COVID-19 pandemic.
The miner had earlier set a production target of 710 million t for the 2020 – 2021 fiscal.
“COVID-19 pandemic has affected demand for coal. However, demand has started to pick up now as the industries have commenced operations. Given the situation, we are hopeful to end the year with 650 – 660 million t of production,” CIL Chairman Pramod Agarawal said.
Read the article online at: https://www.worldcoal.com/coal/04012021/cil-coal-allocation-rises-under-e-auction-scheme/