Mjunction aims CIL's end-to-end support for coal e-auction

The mjunction services, a joint venture e-commerce company of Tata Steel and SAIL, has offered the Coal India Ltd (CIL) end-to end support for the e-auction of coal sold by the coal major.

"We have sent a proposal to CIL to offer end-to-end service, including all back-office jobs for the coal sold on e-auction platform," mjunction Managing Director Viresh Oberoi told PTI.

"We are offering similar service to steel companies who had outsourced it to us. Now we want it to extend to coal sector," he said.

CIL also uses the mjuction platform to sell their some 10 million tonne coal through e-auction.

The service helps companies to free themselves from logistics to documentations to payment collection.

"With the knowledge we have now in this business, we are geared to handle logistics chain for the imported coal to be sold in India from our platform," Oberoi said.

"We are ready to begin selling imported coal through coaljunction and in a month we expect to sign an agreement and begin selling with two companies having coal linkages for imported coal," he added.

He said mjuction would help imported coal users reduce cost by eliminating middlemen for foreign firms, who intend to sell coal without having direct distribution system in India.

"We cannot have control on imported coal price but we can help to minimise associated costs," he said.

Coaljunction has some 10,000 registered buyers offering a ready market for imported coal sellers.