Coal India to supply cement industry through e-auctions

Coal India will supply 4.65Mta to the cement industry for five years through e-auctions starting on Tuesday, according to a senior executive at the company. Of the 4.65Mt on offer annually, 1.14Mt can be procured each year through the railways, while the rest would be supplied through roadways. The company recently held an auction for 7Mt of coal for sponge iron firms and received bids that were 39 per cent higher than the notified price for the non-power sector. The company expects similar results from the cement industry as it faces a shortfall due to the fuel being diverted to power plants.