Coal India Limited (CIL) has announced the dates for conducting the third phase of special forward E-auction of coal for power companies.
According to the announcement, the state-run miner will conduct the forward E-auction for the country’s power producers for the Aug’16 to Jan’17 period on the 17th,18th and 19th of Aug’16.
Notably, CIL has lowered its total offer for the E-auction by approximately 25% to 35.55 MnT in comparison with that of 47.41 MnT in the second phase, conducted in May’16. The reduction in the offer has been done apparently in view of the sluggish demand for coal from power producers.
The coal miner also has revealed that out of the total offered quantity of 35.55 MnT, 17.54 MnT will be offered through the road mode, and the rest 18.01 MnT will be through the rail mode. Moreover, a total of 4,539 rakes will be used in the auction for transporting coal during the Aug’16 to Jan’17 period.
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