News Brief | 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.