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Coal India extends FSA tenure to 10 years for non-regulated sector

Thursday, 11 Jan 2024
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Coal India (CIL) has begun tranche-VII of the linkage auction to non-regulated sector (NRS). CIL has increased the tenure of fuel supply agreement (FSA) to 10 years, beginning with seventh tranche, to ensure long term assurance of coal supply through linkage auction to NRS.

For sponge iron sub-sector customers, tranche-VII of linkage auction commenced in the last week of December 2023, to meet their coal demand. CIL is committed to supply of coal to the extent of the normative requirement of all industrial sectors including sponge iron. In this effort, regular linkage auctions, as per the government’s approved policy are being conducted for long term coal linkages.

The Tranche-VI of linkage auction for sponge iron sub-sector saw 99 percent of the total offered quantity of 11.05 MT being successfully booked. The booked quantity was 10.98 MTs. Between South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL), these accounted for 86 percent of the total offered quantity at 9.5 MT.

Out of the total successful booking of 7.64 MT in SECL, by the sponge iron units, 3.88 MT or 51 percent was converted into FSAs. In case of MCL, 1.44 MT got converted into FSAs out of total booked quantity of 1.83 MT. CIL extended the timeline, in order to facilitate the signing of FSAs, by 75 days over and above the norm of 90 days.

Apart from long-term assurance of regular supply of coal provided through linkage auction, CIL is also conducting single window e-auction, which is open to consumer for for meeting their short term requirements.

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