State-owned, Coal India (CIL) had allocated 3.1 million tonnes (MT) of coal under spot e-auction in November 2016, down 29.5 % from the year-ago period. The decline comes amid government’s goal of securing availability of coal to meet the demand of various sectors, including power. The company had allocated 4.4 MT in November 2015.
During April-November period of the ongoing fiscal, CIL has allocated 36.8 MT of the fuel against 36.5 MT in the same period of the previous fiscal. CIL had introduced the Spot e-Auction Scheme 2007 to enable coal buyers to buy coal through a simple, transparent and consumer-friendly system of marketing and distribution of coal.
Coal India accounts for over 80% of the domestic coal production and is eyeing 1 billion tonne production by 2020. The PSU is eyeing 598 million tonnes in 2016-17.
