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e-auction of coal yields Rs 5,600 crore additional revenue

New Delhi: September 3,2012

During 2011-12, the subsidiary companies of CIL have earned 5600 crores more than the notified price of coal, by selling coal through e-auction. The purpose of sale of coal under e-auction is basically to provide access to coal for such consumers who are not able to source coal through the available institutional mechanisms for reasons like seasonality of coal requirement, limited requirement of coal not warranting long term linkage etc. Sale of coal under e-auction also provides access to consumers to procure coal of their choice and any incremental amount earned over the notified price, through e-auction, is incidental.

This information was given by Shri Pratik Prakashbapu Patil, Minister of State for Coal while replying a written question in Rajya Sabha today.
 

 
PIB Release/DL/651
MD --SB

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