MSTC Limited, on behalf of Indian Oil Corporation Limited (IOCL), will conduct an E-auction for selling 60,000 MT of Petcoke from the Paradip refinery of IOCL.
The prospective bidders will have to deposit a pre-bid Earnest Money Deposit of INR 10, 00,000 for participating in the E-auction irrespective of their bid quantities.
Incidentally, the auction has come at a time when there is strong demand for the fuel as there is a shortage in the international markets. As a result of the recent hurricane in USA, Petcoke exports are disrupted, and many suppliers have declared force majeure on supplies.
Indian Petcoke users have thus turned towards the home markets for their purchases. The prevailing ex-works price for Petcoke in India is at INR 7,150/MT.
The bids will be open on 20Sep’17 at 11 am and will close at 13.30 pm.
The bid document could be downloaded from the website at: www.coalmint.com/tenders
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