Coal India’s fuel allocation via spot e-auction surges 43% in FY21
COAL & MINING

Coal India’s fuel allocation via spot e-auction surges 43% in FY21

According to government data, Coal India (CIL), which accounts for more than 80% of India’s coal output, has allocated 29.83 million tonne (mt) of dry fuel in 2019-20.

CIL issued 42.51 mt of coal in 2020-21 under the scheme of spot e-auction, registering a year-on-year increase of 42.5%. According to the CIL’s website, coal distribution through e-auction was introduced with the aim of providing access to coal for buyers who are unable to source the dry fuel through the available institutional mechanism. Under the scheme, the fuel allocation by CIL increased to 5.30 mt in March, from over 2.532 mt in the corresponding month of 2019-20.

CIL, which accounts for more than 80% of domestic coal output, plans 100 crore tonne of production by 2023-24. The primary purpose of e-auction is to provide equal opportunity to all intending coal buyers for purchasing coal through the single window service.

The state-owned firm will fund more than Rs 1.22 lakh crore in projects that are related to coal evacuation, clean coal technologies and exploration by 2023-24 to achieve the target.

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

The state-owned company would also invest Rs 32,199 crore in clean coal technologies and diversification, Rs 1,893 crore on exploration works and Rs 1,495 crore on social infrastructure.

Image Source


Also read: Domestic coal production in February fell 6.1%

Also read: CIL approves most capacity addition in a year

According to government data, Coal India (CIL), which accounts for more than 80% of India’s coal output, has allocated 29.83 million tonne (mt) of dry fuel in 2019-20. CIL issued 42.51 mt of coal in 2020-21 under the scheme of spot e-auction, registering a year-on-year increase of 42.5%. According to the CIL’s website, coal distribution through e-auction was introduced with the aim of providing access to coal for buyers who are unable to source the dry fuel through the available institutional mechanism. Under the scheme, the fuel allocation by CIL increased to 5.30 mt in March, from over 2.532 mt in the corresponding month of 2019-20. CIL, which accounts for more than 80% of domestic coal output, plans 100 crore tonne of production by 2023-24. The primary purpose of e-auction is to provide equal opportunity to all intending coal buyers for purchasing coal through the single window service. The state-owned firm will fund more than Rs 1.22 lakh crore in projects that are related to coal evacuation, clean coal technologies and exploration by 2023-24 to achieve the target. CIL has planned to invest Rs 32,696 crore on coal evacuation, Rs 29,461 crore in project development and 25,117 crore on mine infrastructure, out of the proposed spend of over Rs 1.22 lakh crore by 2023-24. The state-owned company would also invest Rs 32,199 crore in clean coal technologies and diversification, Rs 1,893 crore on exploration works and Rs 1,495 crore on social infrastructure. Image SourceAlso read: Domestic coal production in February fell 6.1% Also read: CIL approves most capacity addition in a year

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code