Coal India is expected to put another 25-30 million tonne (mt) of coal under the hammer in the ongoing fiscal quarter. This is after e-auction volumes dipped following the decision to pump in more coal to the power sector via fuel supply agreements.
The coal behemoth has been able to book 54 mt of coal via the e-auction route till December (first three fiscal quarters) as against 79 mt in the similar period of the last fiscal year, registering a 31.65 per cent dip. On the other hand, its offtake via the fuel supply agreement (FSA) route to power plants increased by over 12 per cent.
“We have signed new FSAs totalling 32 mt recently. As more coal gets routed via the FSA route, e-auction volume will be low”, a senior company official said. Read More
Latest posts by Business-Standard.com (see all)
- Captive coal mines overshoot target, total production up 8% - March 25, 2019
- UChicago, Tata Centre tie-up to rate India’s most polluting industries - March 25, 2019
- PFC acquires government stake in REC; stocks surge up to 8% - March 25, 2019