Coal India amends policy, allows export of fuel bought via e-auction
National miner Coal India ltd (CIL), has allowed its buyers from e-auction route to export the coal. CIL has tweaked its e-auction coal sale policy and has lifted the embargo on exporting coal procured through spot e-auction and special spot e-auction outlets
Company executives said the move would increase the volume of trade on their e-auction platform.
The existing clause ‘coal procured under e-auction is for use within the country and not for export’ has now been amended, opening the door for export of the dry fuel in two auction categories, said a statement by CIL.
CIL said this is a first of its kind development since the introduction of spot e-auction in 2007. Apart from the long term fuel supply agreements (FSA) that CIL signs with its customers in the power, steel,
