First Auction with One Year Contract on Coal without Specified End User Likely This Month

With no specified end usage, all industries like steel, cement, small and medium scale units can participate in this auction process, likely to be announced anytime soon and may happen as early as this month. The move is essentially aimed at utilising the surplus coal lying with CIL on the back of increased production.

First Auction with One Year Contract on Coal without Specified End User Likely This Month

The first of its kind auction by state-owned Coal India Ltd (CIL), where under a one year contract coal can be bought by any user, as this auction will not be linked to any specified end use requirement. With no specified end usage, all industries like steel, cement, small and medium scale units can participate in this auction process, likely to be announced anytime soon and may happen as early as this month.