Coal India expects to increase e-auction volume twice in H2 FY2024

New Delhi: According to an estimation there is a posibility that India's largest Coal producer PSU, Coal India Limited to e-auction approximately 60 million tonnes of coal in second part of the current fiscal year.

This will leads a heavy increase in comparion with the first half which was 32 million tonnes.Coal india is aiming to sell 15 percent of its production in coming months via e-auctions it is also said by the Shri PM Prasad who is currently serving as the Coal India Chairman.
            
 

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Coal India Ltd (CIL) has achieved a remarkable 31% growth in despatch under the five e-auction windows, reaching an impressive 77.4 million tonnes (mt) during the period from April to December 2021. In FY22 it successfully auctioned a total of 95.9 million tonnes (MT) of coal through its e-auction platform surpassing the previous year's record of 77.4 MT.

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The company auctioned a total of 17 coal mines with a Peak Rated Capacity (PRC) of 51 MTPA during FY22 and achieved a record average revenue of Rs. 3,260 per tonne of coal sold through e-auctions in FY22.

Earlier the company has targeted to meet up the target 1 billion tonne output by financial year 2026, and it has to be seen that the company will rely in its target or not.

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