Coal India Ltd. (CIL) is looking to sell around 50
metric tonnes of coal via the e-auction route in the current financial year.
The initiative is to not only improve topline but to also provide access to
customers who are not able to source coal through other mechanisms. However,
the company is not contemplating price hike as of now.
Last year, the state-run miner earned Rs 5,600 crore more
that the notified price by selling through e-auction.
S Narsing Rao, chairman of the firm said, ” E-auction prices
are under pressure due to softening of international prices.”
On an average, e-auction prices dropped by more than Rs 100
per tonne to Rs 2,282 during the preceding quarter and this happened due to
customers like cement firms opting for international coal.
Meanwhile, of the total 100 fuel supply agreements (FSAs)
which the company is supposed to sign with power companies, it has signed 33 of
which most were with NTPC.
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