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CIL urged to sell through e-auction

Badal Sanyal

Kolkata , April 28

Encouraged by the success of e-marketing of coal 2005-06, the Union Ministry of Coal has advised Coal India Ltd (CIL) to sell more through e-auction in the current fiscal.

The Ministry has allowed CIL to sell about 36 million tonnes (mt) during this fiscal against sales of around 20 mt last year.

The e-marketing of coal acquired a strong base during the fiscal under review, when CIL sold about 19.5 mt of coal, generating an additional revenue (over the notified price) of about Rs 922 crore.

All production subsidiaries of CIL jointly offered 24.5 mt of coal last year, and of the total 27,739 bids received for the coal, the number of successful bidders was 18,583. CIL allocated about 19.5 mt of coal against the successful bids.

Maximum coal sold through e-marketing in 2005-06 was by Mahanadi Coalfield Ltd (MCL), which sold about 4.5 mt.

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