Web Exclusive | February 2017
CIL to launch coal auction with flexible lifting
Amid soft demand for coal, state-owned CIL will hold long-term special forward auction for power producers with flexible lifting period of up to 3 years. "A long-term special forward e-auction for lifting period up to three years is being launched for power producers," an official said. Coal India Ltd(CIL) will soon notify the detailed offer, schedule dates for auction. Power utilities consume about 75-77 per cent of the total coal, as per estimates. Coal India, which accounts for over 80 per cent of the domestic coal production, is eyeing 1 billion tonne of output by 2020. The PSU is looking at 598 million tonne in 2016-17.