Coal India's fuel allocation through spot e-auction rises 43% in FY21

State-owned CIL allocated 42.51 million tonne of coal in 2020-21 under spot e-auction scheme, registering a year-on-year increase of 42.5 per cent.

Coal India Ltd (CIL) had allocated 29.83 MT of the dry fuel in 2019-20, according to government data.

Fuel allocation by CIL under the scheme also increased to 5.30 MT in March, from over 2.53 2 MT in the corresponding month of 2019-20, it said.

Coal distribution through e-auction was introduced with a view to providing access to coal for such buyers who are not able to source the dry fuel through the available institutional mechanism, according to CIL website.

The purpose of e-auction is to provide equal opportunity to all intending buyers for purchasing coal through single window service.

CIL, which accounts for over 80 per cent of domestic coal output, is eyeing one billion tonne of production by 2023-24.

The state-owned firm will pump over Rs 1.22 lakh crore in projects related to coal evacuation, exploration and clean coal technologies by 2023-24 to achieve the target.