+
 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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code