Kolkata: Coal India’s efforts to liquidate its all-time high stock by lowering floor price for e-auction and attempts to sell to coal importers has found only a few takers.
It planned to auction 60 per cent of its 75 million tonnes inventory by May-June following which four subsidiaries planned to offer 46 million tonnes under different e-auction schemes. Coal India reduced floor price for bidding from 20-30 per cent above notified price to the notified prices and bulk of the offer was to be for auctions allowing consumers to lift booked quantities over several months.
However, at a recently-held special forward auction conducted by subsidiary South Eastern Coalfields, only 11 per cent of 3.8 million tonnes on offer was booked at floor price by only three consumers.
