Date:06/04/2005 URL: http://www.thehindubusinessline.com/2005/04/06/stories/2005040602680200.htm

Back SECL to sell coal through e-auctions

Our Bureau

Kolkata , April 5

FOLLOWING in the footsteps of Bharat Coking Coal Ltd, South Eastern Coalfields Ltd (SECL), the largest subsidiary of Coal India Ltd (CIL), has begun to sell coal through the `e-auction' route on a trial basis.

The company will now organise buyers' conferences at various coal consuming centres and cities to familarise prospective buyers/bidders with the new system of sale.

Currently, SECL sells coal to core and non-core sector consumers against a linkage granted by the Union Ministry of Coal and CIL. However, from time to time, coal has been offered for sale under the Open Sales Scheme on a surplus/available basis. Under the new system, the prospective buyer/bidder will have to register with the service providers who will conduct e-auctions on behalf on SECL. E-auctions are to be conducted by independent agencies with experience and expertise in the e-auctioning of commodities such as coal.