Coal India to launch its own e-auction platform, asks bidders to register

TIL Desk/Business/New Delhi/ Coal India Ltd is set to launch its own e-auction platform, and the mining major has informed new and existing bidders to register on the portal, a top company official said. At present, the e-auction portal is managed by mjunction and state-owned MSTC Ltd.

E-auction sales account for around 120 million tonnes annually for Coal India, while the rest is sold through fuel supply agreements and other special sales windows.

The miner’s dedicated e-auction portal has been developed by National Informatics Centre and supported by CIL subsidiary Central Mine Planning & Design Institute Ltd.

“We expect to commence in-house coal e-auction in the next six months. Let the auction happen with volume, and then we will come to know about the cost benefits,” the official told.