Coal India exports 4,000 tonnes of coal to Bangladesh

Coal India Ltd (CIL) has exported coal to Bangladesh for the first time, nearly a month after revising its e-auction coal sale policy and lifting the export ban. Bharat Coking Coal Limited (BCCL), a Jharkhand-based coal-producing subsidiary of CIL, has shipped coal with a gross calorific value of less than 2200 to Rampal Power Station in Khulna, Bangladesh, via spot e-auction. The Maitree Super Thermal Power Project, a joint venture between NTPC Ltd and Bangladesh Power Development Board, is responsible for the plant. The coal bound for Bangladesh left the Indian shore at Kolkata's Syama Prasad Mookerjee Port, on the sea route that connects India and Bangladesh. The Maharatna coal miner amended its e-auction sale policy on June 8, allowing domestic coal purchasers, including traders, to sell coal purchased under spot e-auction and special spot e-auction across borders. Both types of auctions are open to all types of coal buyers and traders in India. However, a special spot e-auction gives you more time to lift coal. The senior executive of the company said that despite the small size, the fact that a start has been made is encouraging. They anticipate increased exports, which will aid in improved coal sales under the two categories of the auction platform. CIL has allocated 6.7 million tonnes (mt) of coal under spot e-auction for the April-June 21 quarter, nearly one-fourth of the total booked quantity of 27.3 mt, fetching the company a 30% premium over the notified price. The add-on was 16% under spot e-auction during the same period last year. Image Source Also read: Coal India laying focus on energy efficiency, plans carbon reduction Also read: CIL notes 28% decline in coal allocation held via e-auction in April