CIL subsidiaries to have autonomy in base e-auction price from November

Coal India Limited (CIL) subsidiaries will have autonomy in fixing the base price for e-auction coal from November depending on demand.

Currently, the base price is kept aligning with the notified price but with the realisation trend improving, CIL has decided to allow the respective subsidiaries to fix the base price depending upon their ground situation. The latest e-auctions from Central Coalfields and Eastern Coalfields are fetching high premium and going forward CIL expects 15-20 per cent premium from auctions as demand remains strong in September and October.

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