CIL to increase spot e-auction offering to 15%

KOLKATA: Coal India will increase spot e-auction offerings in the current quarter to 15 per cent of the year’s production, a top company executive said. In the three quarters till end-December 2019, the company had offered about 12 per cent of its production for auctions. Spot auction offers accounted for almost 46 per cent of the quantity offered for auctions till December, while the rest was a mix of special forward e-auction for the power sector, exclusive e-auction for non-power and special e-auction. Till December, it had offered close to 46 MT through auctions, of which the booked quantity was 44 MT.