Coal India to launch its own e-auction portal
COAL & MINING

Coal India to launch its own e-auction portal

Coal India Limited is all geared up to launch its individual e-auction portal. The mining major has already informed several new and existing bidders to register themselves on this new portal.

Currently, the e-auction portal is being managed by the state-owned MSTC Limited along with mjunction.

E-auction sales round-up for about 120 million tonne annually for the Coal India Limited, as for the rest it is sold via fuel supply agreements and the special sales windows.

The National Informatics Centre has developed Coal India’s dedicated e-auction portal; it is also supported by the CIL subsidiary, Central Mine Planning and Design Institute Ltd.

It is expected that the in-house coal e-auction will be commenced in the next six months. Once the auction happens with the volume they learn about the cost benefits of the e-auction portal.

The e-auction portal of Coal India is executed between the mjunction and MSTC in a 60:40 ratio.

Mjunction has said that it values Coal India's decision. They were the ones to design, develop, and introduce the e-auction 15 years ago. Even today they are continuing the same without any grievance.

The Centre further plans to introduce a coal exchange after receiving consumer feedback. Crisil had been appointed as a consultant for the proposed exchange. Furthermore, a report for the same is expected in the upcoming six to nine months.

Image Source

Coal India Limited is all geared up to launch its individual e-auction portal. The mining major has already informed several new and existing bidders to register themselves on this new portal. Currently, the e-auction portal is being managed by the state-owned MSTC Limited along with mjunction. E-auction sales round-up for about 120 million tonne annually for the Coal India Limited, as for the rest it is sold via fuel supply agreements and the special sales windows. The National Informatics Centre has developed Coal India’s dedicated e-auction portal; it is also supported by the CIL subsidiary, Central Mine Planning and Design Institute Ltd. It is expected that the in-house coal e-auction will be commenced in the next six months. Once the auction happens with the volume they learn about the cost benefits of the e-auction portal. The e-auction portal of Coal India is executed between the mjunction and MSTC in a 60:40 ratio. Mjunction has said that it values Coal India's decision. They were the ones to design, develop, and introduce the e-auction 15 years ago. Even today they are continuing the same without any grievance. The Centre further plans to introduce a coal exchange after receiving consumer feedback. Crisil had been appointed as a consultant for the proposed exchange. Furthermore, a report for the same is expected in the upcoming six to nine months. Image Source

Next Story
Real Estate

Pune Records 11% Drop in Property Registrations in Nov

Property registrations in Pune saw a decline of 11 percent year-on-year in November, totaling 13,371 units, despite robust demand, according to a report by Knight Frank India. The real estate consultancy revealed that the total registrations in November 2024 generated a revenue of Rs 475 crore for the state. This marked a fall from last year's figure of 14,988 units in the same month. Compared to October 2024, when 20,894 units were registered, November’s figures represent a 36 percent decrease. Shishir Baijal, Chairman and Managing Director of Knight Frank India, stated that Pune’s proper..

Next Story
Infrastructure Energy

Oriana Power Signs MoU with Rajasthan in Clean Energy

Oriana Power, a publicly-listed company on the NSE, announced on Monday that it has entered into a Memorandum of Understanding (MoU) with the Rajasthan government to invest Rs 10,000 crore in a series of clean energy projects. The projects will focus on solar energy, floating solar, green hydrogen, and energy storage solutions. The agreement was finalized in Jaipur during the recently concluded Rising Rajasthan Global Summit 2024. Oriana Power has identified six key locations in the state for these projects, including one in Bikaner, two in Churu, and three in Phalodi districts. Rupal Gupta, M..

Next Story
Infrastructure Energy

PM Surya Ghar Scheme Set to Surpass 10 Years of Solar Growth

The PM Surya Ghar Muft Bijli Yojana has achieved a remarkable milestone, surpassing 6.85 lakh solar installations within a year and poised to exceed a decade's worth of solar growth. The scheme, launched in February 2024, has already achieved 86 percent of the solar installations made in the last ten years. The 3-5 kW segment accounted for the majority of installations, at 77 percent, while 14 percent of installations were in the 5kW+ category. Gujarat led the charge with 2,86,545 installations, followed by Maharashtra with 1,26,344, Uttar Pradesh with 53,423, and Kerala. The scheme, which now..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000