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CIL to Conduct E Auction to Substitute Coal Imports

Coal News - Published on Mon, 20 Jul 2020

Image Source: CIL E Auction Coal Import
Coal India Ltd has introduced a new category of spot e-auction for importers only and aimed at replacing 150 million tonne of imports with domestic supply. Indian buyers including traders who imported coal at any point of time in the current fiscal or in the previous two financial years are eligible for participating in this new version of e-auction. Customers can bid for further incremental quantities of coal if they require. CIL will commence e-auction under the new scheme from August 2020. The service providers would be MSTC Ltd and Mjunction Services Ltd for the new scheme. The minimum bid quantity is pegged at 25,000 tonne for a source in case of road mode transportation. For rail mode transportation, it is at 50,000 tonne, which is equivalent to 12 rakes

CIL has identified domestic coal based power plants and manufacturers of sponge iron, cement, fertilisers, steel and others, who are importing coal, as its potential customers. These segments of customers had imported around 150 million tonne of coal during the last fiscal

The new programme is an addition to its existing four categories of e-auctions.

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Posted By : Yogender Pancholi on Mon, 20 Jul 2020
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