MSTC Limited, a Government of India enterprise, has secured a significant contract with Coal India Limited (CIL). The company has been appointed as the e-auction service provider for conducting electronic auctions of coal and coal products for CIL and its subsidiaries over the next two years.
Key Highlights of the Engagement:
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Scope: MSTC will facilitate e-auctions for coal and coal products on behalf of CIL and its coal companies.
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Duration: The agreement spans a period of two years, underscoring a long-term collaboration between the entities.
About MSTC Limited:
MSTC Limited is a prominent public sector enterprise under the Ministry of Steel, Government of India. The company specializes in providing e-commerce services, including e-auctions and e-procurement, across various sectors. Its expertise in electronic auction platforms has positioned it as a trusted partner for numerous government and private organizations.
About Coal India Limited:
Coal India Limited, a state-owned entity, is the world’s largest coal-producing company. It plays a pivotal role in meeting India’s energy requirements by supplying coal to various sectors, including power and steel. CIL operates through its numerous subsidiaries, ensuring a steady supply of coal across the nation.
Implications of the Engagement:
This collaboration between MSTC and CIL is poised to enhance the efficiency and transparency of coal auctions in India. By leveraging MSTC’s robust e-auction platform, CIL aims to streamline the auction process, ensuring fair competition and optimal price discovery for its coal products.
For more detailed information, you can refer to the official announcement.
