Coal India’s fuel allocation via spot e-auction surges 43% in FY21
COAL & MINING

Coal India’s fuel allocation via spot e-auction surges 43% in FY21

According to government data, Coal India (CIL), which accounts for more than 80% of India’s coal output, has allocated 29.83 million tonne (mt) of dry fuel in 2019-20.

CIL issued 42.51 mt of coal in 2020-21 under the scheme of spot e-auction, registering a year-on-year increase of 42.5%. According to the CIL’s website, coal distribution through e-auction was introduced with the aim of providing access to coal for buyers who are unable to source the dry fuel through the available institutional mechanism. Under the scheme, the fuel allocation by CIL increased to 5.30 mt in March, from over 2.532 mt in the corresponding month of 2019-20.

CIL, which accounts for more than 80% of domestic coal output, plans 100 crore tonne of production by 2023-24. The primary purpose of e-auction is to provide equal opportunity to all intending coal buyers for purchasing coal through the single window service.

The state-owned firm will fund more than Rs 1.22 lakh crore in projects that are related to coal evacuation, clean coal technologies and exploration by 2023-24 to achieve the target.

CIL has planned to invest Rs 32,696 crore on coal evacuation, Rs 29,461 crore in project development and 25,117 crore on mine infrastructure, out of the proposed spend of over Rs 1.22 lakh crore by 2023-24.

The state-owned company would also invest Rs 32,199 crore in clean coal technologies and diversification, Rs 1,893 crore on exploration works and Rs 1,495 crore on social infrastructure.

Image Source


Also read: Domestic coal production in February fell 6.1%

Also read: CIL approves most capacity addition in a year

According to government data, Coal India (CIL), which accounts for more than 80% of India’s coal output, has allocated 29.83 million tonne (mt) of dry fuel in 2019-20. CIL issued 42.51 mt of coal in 2020-21 under the scheme of spot e-auction, registering a year-on-year increase of 42.5%. According to the CIL’s website, coal distribution through e-auction was introduced with the aim of providing access to coal for buyers who are unable to source the dry fuel through the available institutional mechanism. Under the scheme, the fuel allocation by CIL increased to 5.30 mt in March, from over 2.532 mt in the corresponding month of 2019-20. CIL, which accounts for more than 80% of domestic coal output, plans 100 crore tonne of production by 2023-24. The primary purpose of e-auction is to provide equal opportunity to all intending coal buyers for purchasing coal through the single window service. The state-owned firm will fund more than Rs 1.22 lakh crore in projects that are related to coal evacuation, clean coal technologies and exploration by 2023-24 to achieve the target. CIL has planned to invest Rs 32,696 crore on coal evacuation, Rs 29,461 crore in project development and 25,117 crore on mine infrastructure, out of the proposed spend of over Rs 1.22 lakh crore by 2023-24. The state-owned company would also invest Rs 32,199 crore in clean coal technologies and diversification, Rs 1,893 crore on exploration works and Rs 1,495 crore on social infrastructure. Image SourceAlso read: Domestic coal production in February fell 6.1% Also read: CIL approves most capacity addition in a year

Next Story
Real Estate

Pune Records 11% Drop in Property Registrations in Nov

Property registrations in Pune saw a decline of 11 percent year-on-year in November, totaling 13,371 units, despite robust demand, according to a report by Knight Frank India. The real estate consultancy revealed that the total registrations in November 2024 generated a revenue of Rs 475 crore for the state. This marked a fall from last year's figure of 14,988 units in the same month. Compared to October 2024, when 20,894 units were registered, November’s figures represent a 36 percent decrease. Shishir Baijal, Chairman and Managing Director of Knight Frank India, stated that Pune’s proper..

Next Story
Infrastructure Energy

Oriana Power Signs MoU with Rajasthan in Clean Energy

Oriana Power, a publicly-listed company on the NSE, announced on Monday that it has entered into a Memorandum of Understanding (MoU) with the Rajasthan government to invest Rs 10,000 crore in a series of clean energy projects. The projects will focus on solar energy, floating solar, green hydrogen, and energy storage solutions. The agreement was finalized in Jaipur during the recently concluded Rising Rajasthan Global Summit 2024. Oriana Power has identified six key locations in the state for these projects, including one in Bikaner, two in Churu, and three in Phalodi districts. Rupal Gupta, M..

Next Story
Infrastructure Energy

PM Surya Ghar Scheme Set to Surpass 10 Years of Solar Growth

The PM Surya Ghar Muft Bijli Yojana has achieved a remarkable milestone, surpassing 6.85 lakh solar installations within a year and poised to exceed a decade's worth of solar growth. The scheme, launched in February 2024, has already achieved 86 percent of the solar installations made in the last ten years. The 3-5 kW segment accounted for the majority of installations, at 77 percent, while 14 percent of installations were in the 5kW+ category. Gujarat led the charge with 2,86,545 installations, followed by Maharashtra with 1,26,344, Uttar Pradesh with 53,423, and Kerala. The scheme, which now..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000