Coal India Ltd will launch web-based forward auctions in coal via two service providers on March 28, starting off with coal produced by Western Coalfields Ltd and following up on March 31 with Northern Coalfields Ltd.

K Ranganath, detailing CIL’s progress in implementing the New Coal Distribution Policy announced last October, said the forward e-auctions will be available only to actual consumers.

“Each forward e-auction will be for four quarters, with a provision for bidding separately for each quarter,” Ranganath said. CIL will conduct one forward e-auction each quarter.

Posted: 03|25|08 at 9:43 am. Filed under: Auction News.