CIL offered 160.5 mt till Feb under e-auction of coal

Coal India Limited (CIL) which is an Indian coal mining and refining corporation owned by the government offered a quantity of 160.5 million tonne (mt) till February 22 under several windows of online-auction, out of which only a quantity of 100.1 mt is allocated.

CIL has not ceased conducting e-auction for any of the periods in this financial year. The power plants do not have a shortage of coal. Power plants are equipped with coal stock of 26.398 mt, as of 8 March 2022.

Furthermore, CIL has a pit-head stock of about 45 mt and daily production of 2.5 mt. A few power plants are not able to set up sufficient coal stock because of payment issues.

CIL said its first-ever offer of 5.2 lakh tonnes of coal under the newly updated single-window e-auction received an outstanding response from coal consumers as 100% of the offered quantity got booked.

After merging their earlier auction windows into one, Coal India conducted an online auction in two of its subsidiaries.

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Also read: CIL gets 100% booking in first single-window e-auction