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Coal E Auction in April-June Declines as COVID19 Impacts Demand

Coal News - Published on Thu, 06 Aug 2020

Image Source: CIL Coal E Auction
PTI reported that Coal India Ltd’s coal allocation under spot e auction scheme registered 7.1 per cent decline to 6.89 million tonne in April-June this fiscal, in the wake of slump in fuel demand due to COVID19 induced lockdown. Coal India Ltd had allocated 7.42 million tonne of coal in the year-ago period. Coal distribution through e auction was introduced with a view 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’s coal allocation under spot e auction scheme had declined to 29.83 million tonne in 2019-2020, over 34.34 million tonne allocated in 2018-19.

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Posted By : Yogender Pancholi on Thu, 06 Aug 2020
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