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Business Economy


CIL to offer 5.5 mt coal in Feb-March through auctions

Kolkata, Feb 8 (UNI) Coal India Limited (CIL) is considering to offer some 5.5 million tonnes (mt) of coal from its stocks to power sector clients through a special forward auction, likely to be conducted this month
and March, India Coal Market Watch (ICMW) quoting CIL officials as saying.
The CIL, world's single largest coal producer had offered 10 mt coal to power sector and 5 mt to and non-power sector consumers in November 2015.
However of the 15 mt, 5.5 mt of coal remained unsold, the report said. “So for the balance 5.5 mt, we have put up a notice and will offer for auction. The auction will be done in February and March,” the official
added.
The state run company, meanwhile said it has no immediate thinking to reduce production. The company was expecting that the coal demand would pick up gradually.
“It may be a volatile situation as on date because we are supplying more than required coal to power sector consumers, but the situation may turn around. There are many development plans that have been envisaged by the government. Once those plans take off, the requirement of coal will automatically pick up,” the official said.
Another ICMW report said coal stocks at about 100 thermal power plants monitored by the Central Electricity Authority (CEA) got close to 35 million tons (mt) mark as of February 3, 2016, up week-on-week
(w-o-w), month-on-month (m-o-m) and year-on-year (y-o-y).
There has been continuous improvement in coal stocks position at power plants since the beginning of January 2015 and the situation is such that after December 2015 not a single plant is facing a super-critical
coal stocks scenario of less than seven days or critical coal stocks position of less than four days.
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