+
 CIL gets 100% booking in first single-window e-auction
COAL & MINING

CIL gets 100% booking in first single-window e-auction

On Wednesday, Coal India Limited (CIL) said its first-ever offer of 5.2 lakh tonnes of coal under the newly revamped single-window e-auction received an impressive response from coal consumers as 100% of the offered quantity got booked.

After merging their earlier auction windows into one, CIL conducted an online auction in two of its subsidiaries.The entire quantity of 3.2 lakh tonnes offered by Northern Coalfields Limited was fully booked under the newly structured auction window on March 3rd, 2022.

CIL official told the media that in a similar way, around 1.98 lakh tonnes placed under the sole e-hammer by Eastern Coalfields Limited were ordered totally.

The Cabinet Committee on Economic Affairs (CCEA) had a meeting on February 26, where they approved the idea of one single spot e-auction window by coal companies for all consumers. This unique system will lead to uniform market-discovered prices for different grades of coal. Consumers from regulated and unregulated sectors as well as traders now have to contend under one common window when buying or selling this commodity.

CIL’s offer of e-auction coal is now mode agnostic, which means they will not specify the transportation method of coal. Earlier, the model for coal booked under different auctions used to be specified; with rail as the default mode and customers having the option to choose their preferred transport of rail or road.

Image Source

Also read: Coal India's operations aims to become net-zero in next 4 years

On Wednesday, Coal India Limited (CIL) said its first-ever offer of 5.2 lakh tonnes of coal under the newly revamped single-window e-auction received an impressive response from coal consumers as 100% of the offered quantity got booked. After merging their earlier auction windows into one, CIL conducted an online auction in two of its subsidiaries.The entire quantity of 3.2 lakh tonnes offered by Northern Coalfields Limited was fully booked under the newly structured auction window on March 3rd, 2022. CIL official told the media that in a similar way, around 1.98 lakh tonnes placed under the sole e-hammer by Eastern Coalfields Limited were ordered totally. The Cabinet Committee on Economic Affairs (CCEA) had a meeting on February 26, where they approved the idea of one single spot e-auction window by coal companies for all consumers. This unique system will lead to uniform market-discovered prices for different grades of coal. Consumers from regulated and unregulated sectors as well as traders now have to contend under one common window when buying or selling this commodity. CIL’s offer of e-auction coal is now mode agnostic, which means they will not specify the transportation method of coal. Earlier, the model for coal booked under different auctions used to be specified; with rail as the default mode and customers having the option to choose their preferred transport of rail or road. Image Source Also read: Coal India's operations aims to become net-zero in next 4 years

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?