Coal India introduces special spot e-auction scheme to reduce dependence on imports
KOLKATA: Coal India NSE 2.02 % has introduced a special spot e-auction scheme for importers to boost sales and reduce India’s dependence on imports. Buyers including traders who imported coal after March 2018 are eligible for bidding under the scheme.
In a notice, Coal India said: “Special Spot e-auction Scheme 2020 for import substitution (only for coal importers) is being introduced…to attain ‘Aatma Nirbharta’. Coal distribution through this scheme…aims to provide access to indigenous coal to…importers. Such importers may be importing coal for self-use or for sale within India.”
Coal India will soon notify the e-auction events for the period August 2020 to March 2021 under the scheme and coal companies will draw specific programmes for e-auctions.
