NEW DELHI | Aug 07, 2016: Coal India (CIL) will this month hold special forward e-auction for power producers, amid government's plans to provide round-the-clock electricity to all.
"Special forward e-auction for 2016-17 for power producer phase III will be held this month," an official said, adding that CIL subsidiaries like Mahanadi Coalfields and Central Coalfields will hold the auctions.
The auctions will be held on August 17, 20, 23 and 24, the official said.
The first phase of the auction was held by the PSU in April while the second phase was held in May.
The Coal Ministry had earlier said power producers being supplied coal through the MoU route by CIL will now have to take it via special e-auction being conducted for the power sector as the government has decided not to extend the pact beyond June 30.
In a communication to Coal India, government said that in order to ensure there is no disruption in coal availability to these plants, the MoU with the plants which expired on March 31, will not be extended beyond June 30, so as to facilitate smooth transition to the special forward e-auction system of the coal PSU.
CIL, a major supplier of coal to the power sector, is also eyeing production of one billion tonnes by 2020.
Coal India's output for this fiscal is fixed at 598 million tonnes.
(Source: http://economictimes.indiatimes.com/)