MSTC Limited, on behalf of Indian Oil Corporation Limited (IOCL), has scheduled an e-auction for selling 90,000 MT of Raw Petroleum Coke from the Paradip refinery of IOCL, on 30 Nov’18.
Salient features of the e-auction are enumerated as follows:
- Prospective bidders are required to submit pre-bid earnest money deposit (EMD) amount of INR 10,00,000 to participate in this e-auction irrespective of their intended bid quantity.
- Minimum bid quantity for customers is 10,000 MT.
- Reserve price would be declared in live auction.
- Delivery period is from 1 Dec’18 to 31 Dec’18.
- The bids will open on 30 Nov’18 at 11:00 Hrs. and will close at 13.00 Hrs. on the same day.
For contact details and other information view TENDER SECTION
This is the normal auction declared by IOC, which normally takes place at the end of the month having delivery period in the next calendar month.
Notably, in the month of Nov’18, IOC had to conduct a mid-term auction on 14 Nov’18, as 50,000 MT was left over from the normal auction conducted on 29 Oct’18 for 90,000MT.
As the demand of pet coke is gradually picking up, it would be interesting to observe whether the entire quantity offered in this auction gets sold, or if some quantity remains unsold like the auction conducted at the end of Oct’18.
Major cement industries from Odisha, Chhattisgarh, and Jharkhand are expected to participate in the auction.
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