CIL Expects Achieving E-auction FY17 sales target, Likely to Add 5 MnT to Original Target

Buoyed by the certainty of attaining its E-auction target for the current fiscal, Coal India Limited (CIL) is mulling offering an additional 5 MnT within the fiscal.

CIL had sold 113 MnT through E-auctions by Dec’16 out of its target of 120 MnT for FY17.
In view of the lower domestic prices vis-à-vis international prices, CIL is considering offering another 5 MnT during the current fiscal.

CIL officials expect demand for coal in the country to grow as international prices are high and likely to go up further.

As a matter of practice, CIL sells coal through direct supply contract with power companies, and through E-auctions to non-power entities.