Millennium Post

Coal India Ltd offers 14 mt under special e-auction

State-owned Coal India has offered 14 million tonnes of fossil fuel under special e-auction to both power and non-power sectors in order to facilitate liquidation of pit-head stock, Parliament was informed on Thursday. 

"To facilitate liquidation of pit head coal stock, CIL has offered 10 mt (million tonnes) and 4 mt of coal under special e-auction to power sector and non-power sector consumers respectively, in line with directions of government," Coal and Power Minister Piyush Goyal informed the Lok Sabha in a written reply.

He further said that supply of thermal coal to power sector by Coal India (CIL) was 385.61 mt against a target of 405 mt in the last fiscal. During April-January 2015-16, supply to power plants by CIL was 337.01 mt (provisional) against the target of 352.29 mt. CIL, he said, is able to meet the current demand and thermal power plants have comfortable coal stock position of 36 mt equivalent of 24 days requirement as on February 2. "As on February 1, 2016, the coal stock was 42.25 mt compared to 39.05 (provisional) mt as on February 1, 2015.” he said.

Govt garners Rs 726 crore from auction of 31 coal blocks
Government has generated a revenue of Rs 726 crore from the auction of 31 coal blocks, Parliament was informed on Thursday. "The actual revenue generated till January 2016 only from auction of 31 coal mines under the provisions of the Coal Mines (Special Provisions) Act, 2015 is Rs 7,26,32,97,858 (provisional)," Coal Minister Piyush Goyal said in Lok Sabha. The minister further said "the estimated revenue which would accrue to the coal bearing states concerned from the allotment of 43 coal mines and auction of 31 coal mines during the life of mine/lease period is Rs 1,96,698 crore and Rs 1,48,276 crore respectively." Goyal further said the fourth round of coal blocks auctions for the non-regulated sector was cancelled in view of the prevalent market conditions which included sharp decline in e-auction price of coal. from Coal India as well as the international FOB price of non-coking coal among other factors.
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