Coal India defers auction of coal linkages for sponge iron sector
.jpg)
The auction of coal linkages for sponge iron industry has been deferred and bidding for the sector will now be held next week.
“Based on the feedback received during the pre-bid meeting held on May 29, 2016, it is hereby notified that the time line for auction of linkage of sponge iron sector has been extended,” Coal India (CIL) said in a notice.
“The auction shall commence on June 10, 2016 instead of May 31, 2016,” it said adding that a detailed timeline will be published shortly. In the interim, registration of MSTC website will continue.
Coal India had earlier said it will conduct the auction of coal linkages for the sponge iron sector on May 31, — the first sale of the dry fuel for non-regulated industries through bidding route.
The Coal Ministry has directed CIL to conduct auction of coal linkages for the non-regulated sectors such as cement, steel/sponge iron and aluminium with a view to ensuring fuel availability to end users.
Coal India had earlier said that the first sale of coal linkages would be conducted for the sponge iron sector.
The PSU had also organised a pre-bid meeting with sponge iron consumers with regard to auction of linkages for the sector to explain different features of the auction process.
CIL has decided to allocate a total quantity of around 23.25 million tonnes per annum (MTPA) in the first tranche of coal linkage auction.
Auction of coal via linkage from Singareni Collieries Company will be done subsequently.
“The phase I of tranche 1 would be for ‘Sponge Iron’ sub-sector. Total quantity of approximately 2 MTPA has been allocated for sponge iron sub-sector under Phase I,” the source had said.
The government had earlier said allocation of coal linkages for non-regulated sector industries will be only through the auction route to ensure transparency.
Sectors included are cement, steel/sponge iron, aluminium, and others (excluding fertiliser, urea).
The framework attempts to make coal available in a fair manner to end-users.
Other Latest News
.webp)
Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales.
The company had reported a PAT of Rs 236 crore in the year-ago period.
Revenue from operations rose to Rs 5,409 crore in the fourth quarter as compared with Rs 4,791 crore in the year-ago period, ACC Ltd said in a regulatory filing.
.webp)
Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.
The maker of Maggi noodles, Nescafe coffee and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4 per cent and a moderate increase in underlying trading profit margin.
.webp)
Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM.
Hitachi Energy intends to establish additional global capability centres (GCCs) in India to bolster its local operations in response to escalating energy demand and the government's focus on expanding renewable energy generation, according to Reuters.
.webp)
Air India Express will give first-time voters aged 18 to 22 a 19 per cent discount on domestic and international flight tickets for travelling to their home constituencies and back, the Economic Times (ET) reported.
This deal is part of the airline’s "#VoteAsYouAre" campaign, “designed to mobilise first-time voters to fly home to exercise their constitutional right and help guide the flight path of the nation", ET reported.
.webp)
National Stock Exchange (NSE) on Wednesday introduced derivative contracts on Nifty Next 50 index, which received a positive response from market participants.
More than 375 trading members from across the country participated in the index derivatives, the National Stock Exchange (NSE) said in a statement.
.webp)
.webp)
.webp)
.webp)
.webp)
