The purpose of allocation of coal through e-auction is to make coal available to consumers who want a long-term assured supply of coal for a year.
New Delhi, Coal India’s allocation of coal through e-auction to the power sector in April to August increased by 8.4 percent to 79.4 million tonnes.
This information is given in the monthly statement given by the Ministry of Coal to the Cabinet. The public sector company had allocated 73.2 lakh tonnes of coal to the power sector through e-auction in the same period of last financial year.
Coal India said that no coal was allocated under the scheme in August. The company was allocated 6.2 lakh tonnes of coal to the power sector in August 2019-20.
The purpose of allocation of coal through e-auction is to make coal available to consumers who want a long-term assured supply of coal for a year.
The objective of this scheme is to provide equal opportunities to all coal customers. These customers can buy coal for their own consumption through single window service. In this, customers also decide the price through online bidding process.
Coal India is the major supplier of coal to the country’s power sector. The company has 80 percent share in domestic coal production. The company has set a target of producing 71 million tonnes of coal in the current financial year. The public sector company aims to produce one billion tonnes of coal by 2023-24.
(Courtesy: PTI Language)
