Coal India goes big on digital, to sell 10% output via e-auctions
CIL has been conducting its e-auctions through the two service providers since the process started in 2005
Coal India Ltd (CIL) is planning to sell 10% of its annual output in the next three years via e-auction, for which it is inviting bids from service providers.State-owned MSTC Ltd and mjunction Ltd—jointly owned by Tata Steel and the Steel Authority of India Ltd (SAIL) — are the two existing service providers.CIL has been conducting its e-auctions through the two service providers since the process started in 2005.The country's near-monopoly coal miner is set to sell 235 million tonne (mt) through the process during this year that comes to a yearly average of 78 mt. It had sold 51 mt and 80 mt in fiscals 2015 and 2016, respectively."Considering about 10% of the estimated coal production of CIL to be sold through e-auction process during the next three years, it is estimated that about 235 million tonnes of coal and coal products shall be sold through e-auction by CIL. This is an indicative position only. The quantity to be sold through e-auction would be reviewed from time to time by Ministry of Coal," CIL said in the tender document.