IL targeting 10% total sales via e-auction

The Centre has allowed Coal India to revert to the old system, removing the cap on e-auction volumes with effect from April 2015, which might boost the state-owned miner´s bottom line going ahead. The company is expected to sell 50-55 million tonnes (Mnt) in FY16 and is targeting 10 per cent total sales via e-auction route and is confident of achieving production target of 550 Mnt for the current year. It also has a production target of 910 Mnt by 2019-2020. The company got an average of 195 rakes per day in FY15 and is confident of getting over 230 rakes per day in FY16.