Coal India Ltd finds few takers for coal in special e-auction
The coal ministry’s special e-auction scheme for 2015 had few bidders as companies found that the floor price fixed was too high, much above the current global prices. While there were eight companies participating in the bid, the auction nearly failed to get any premium above the floor price. The ministry, under a special e-auction scheme for power producers, offered 5 million tonne for sales. But MSTC could auction less than half the quantity that CIL offered, an MSTC official said.