Coal India to Launch it Own e-Auction Platform

At present, the e-auction portal is managed by mjunction and state-owned MSTC Ltd.

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 media.

E-auction of Coal India is executed in a 60:40 ratio between mjunction and MSTC.

''We value Coal India's decision. We had designed, developed and introduced the e-auction 15 years ago, and are still carrying on with the service without any grievance,'' a senior executive of mjunction said on the development.

The Centre is also planning to introduce a coal exchange after taking into account consumer feedback. It had appointed Crisil as consultant for the proposed exchange, and a report in this regard is expected in the next six-nine months.

“We want to create a robust platform for private coal mining companies… where buyers and sellers can meet when there is a lot of coal on offer after commercial mines begin production. It will have a regulatory oversight,” Coal Secretary A K Jain had recently said in Kolkata.