CIL to e-auction 36 MT of coal
The government has authorised Coal India Ltd to e-auction 36 million tonnes of coal in 2006-07, 16 MT more than last fiscal.india Updated: Apr 13, 2006 14:25 IST
The government has authorised Coal India Ltd to e-auction 36 million tonnes of coal in 2006-07, 16 MT more than last fiscal, to prevent black marketing of the commodity.
Coal Minister Shibu Soren said that an additional 60 MT of coal would be ensured to CIL for meeting its increased commitments.
Before approving the e-auctioning, the Minister scrutinised CIL's commitments, particularly those related to power utilities.
He said another 255 MT of coal had been despatched to power utilities in 2005-06 while the coal major's commitment to power sector for the current fiscal was 272 MT.
As against the production of 343 MT of coal by CIL in the last fiscal, the targeted production in the current fiscal would be 363 MT.
Soren exuded confidence that through appropriate staff management, CIL would be able to despatch 9 MT of coal to power utilities as its pithead stocks at the end of March 2006 has been a record 33 MT.
Saying that CIL would be able to maintain pithead stocks of 21 MT, which means that 9 MT of coal would be made available for the coal-fired plants by ensuring adequate stocks, the Minister said the power sector also needed to lift coal at regular intervals for their consumption.
Soren said CIL's subsidiaries had realised an additional revenue of Rs 900 crore from e-marketing of coal.