South Eastern Coalfields Ltd(SECL), one of the major subsidiaries of Coal India Ltd (CIL) had conducted E-Auction for the sales of coal in May’17 by Rail mode.
SECL had conducted two E-auctions in May’17 for Power and Non-Power sectors. Special forward E-auction for Power producers was carried out on 5 May’17 and an exclusive E-Auction for non-power consumer (including CPPs) was on 12 May’17.
E-auction by rail mode implies Coal for auction is offered in terms of rakes of rail wagon. Each rake consists of approximately 3894 MT of coal with minimum bid quantity of 1 rake.
Coal delivery after the successful completion of the auction is done through railways.
Special forward E-auction for Power Producers:
E-auction for power producers by Rail mode received a dull response. Coal grades of G5, G6 and G7 specification were offered from 5 railway sidings of SECL.
Out of the 720 rakes being offered for sale in the auction, only 260 rakes were sold.
Govinda Siding did not get any buyer for coal. While only 10 rakes each from Surakachchar and Rajnagar siding were sold and that too in the base price.
All the coal rakes offered from Bhatgaon and Chirmiri sidings were sold, with coal from Chirmiri siding receiving bids of INR 330/MT higher than the base price.
| Location | Grade | Base Price | Rake Offered | Rake Sold |
| Bhatgaon Siding | G7 ROM | 1760 | 120 | 120 |
| Chirimiri Siding | G7 ROM | 1760 | 120 | 120 |
| Rajnagar Siding | G5 ROM | 2750 | 240 | 10 |
| Govinda Siding | G6 ROM | 2050 | 120 | – |
| Surakachchar Siding | G5 ROM | 2750 | 120 | 10 |
| Total | 720 | 260 |
Source: CoalMint Research
Prices in INR/MT
Major Coal Receivers:
KSK Mahanadi, Jindal Power and Adani Power and came out as the successful bidders in the auction.
KSK Mahanadi acquired 95 rakes of coal, followed by Adani Power and Jindal power.
| Receivers | Bid price | Rakes Taken |
| KSK Mahanadi | 95 | |
| Bhatgaon siding | 1840 | 45 |
| Chirimiri Siding | 2090 | 30 |
| Surakachchar Siding | 2750 | 10 |
| Rajnagar Siding | 2750 | 10 |
| Adani Power Rajasthan | 90 | |
| Chirimiri Siding | 2090 | 90 |
| Jindal Power | 75 | |
| Bhatgaon siding | 1840 | 75 |
| Grand Total | 260 | |
Source: CoalMint Research
Prices in INR/MT
Exclusive E-auction for Non-Power Consumers:
E-auction for Non-power sector showed a better result than that conducted for the power sector. In the auction conducted by rail mode, 68% of the rakes being offered were sold.
Coal for auction was offered from Chirmiri, Rajnagar and Govinda siding of SECL. Coal rake from Chirmiri siding received bids higher than the base price in the range of INR 200-250/MT. While coal from Rajnagar and Govinda sidings were sold at their base price.
| Location | Grade | Base Price | Rake Offered | Rake Sold |
| Chirimiri Siding | G7 ROM | 2112 | 50 | 50 |
| Rajnagar Siding | G5 ROM | 2750 | 50 | 32 |
| Govinda Siding | G6 ROM | 2508 | 50 | 20 |
| Total | 150 | 102 |
Source: CoalMint Research
Prices in INR/MT
Major Coal Receivers:
BALCO came out as the top coal receiver in the auction followed by Monnet Ispat, ACC cement and Hindalco.
| Receivers | Bid Price | Rakes Taken |
| BALCO | 30 | |
| Govinda Siding | 2508 | 15 |
| Rajnagar Siding | 2750 | 15 |
| Monnet Ispat and Energy | 14 | |
| Chirmiri Siding | 2332 | 9 |
| Rajnagar Siding | 2750 | 5 |
| ACC Ltd Kymore Cement | 10 | |
| Chirmiri Siding | 2362 | 10 |
| Hindalco Industries | 8 | |
| Chirmiri Siding | 2312 | 8 |
| Prism Cement | 6 | |
| Rajnagar Siding | 5500 | 6 |
| Shri Mahavir Ferro Alloy | 6 | |
| Chirmiri Siding | 2332 | 3 |
| Govinda Siding | 2508 | 3 |
| Godavari Power and Ispat | 6 | |
| Chirmiri Siding | 2332 | 6 |
| Others | 22 | |
| Total | 102 | |
Source: CoalMint Research
Prices in INR/MT
Leave a Reply