Coal India to Launch e-Auction for Future Soon

Coal India to Launch e-Auction for Future Soon

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Coal India will launch e-Auction for forwards contracts coal from March 28, 2008 to offer mostly high-grade coal from underground mines.

Similar roadshows will be held across the country by organising the second event in New Delhi on 31 March 2008. As per the auction schedule, the second forward e-Auction would be held on March 31, in which coal from Northern Coalfields Ltd. would be offered. This will be followed by the offer from Mahanadi Coalfields on April 7, from Central Coalfields on April 10 and from Eastern Coalfields on April 15. Ahead of the auctions, mock sessions would be held on Mar 24-25 by MSTC, one of the selected auction service providers. The coal on offer would be priced higher than current spot prices, as the quality would be better.

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