State-run miner, Coal India Limited (CIL), will conduct the first phase of exclusive E-auction of coal for non-power sector for FY17 on the 30th and 31st of May’16, following the similar mode of supply to the power producers on the third week of the month.
The miner has earmarked a total quantity of 6 MnT for the auction for the first three months—May’16 to July’16; allotting 2 MnT for each month.
Bidders will have to bid for source-wise and grade-wise quantities for the entire three months; and will also have to lift the monthly quantities within five months subsequently. Coal booked for May’16 will have to be lifted within Oct’16; likewise, bookings for Jun’16 will have to be lifted within Nov’16.
Besides, the reserve price for the G6 and lower grades of coal will remain at 10% over the notified price for the E-action.
It has also been learnt that CIL will offer approximately 79 MnT of coal for E-auction for both the power and non-power sectors during the Aug-Mar’17 period of the current fiscal. Out of that quantity, 63 MnT will be for the power producers, and the rest, 16 MnT, will be for the non-power sector.
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