Tata Steel Ltd.

In the wake of rising demand-supply gap of coal - Tata Steel and Steel Authority of India’s (SAIL) joint venture - mjunction- will be selling imported coal online. The transactions are expected to start next month. mjunction is planning to import and sell 100 million tonnes coal this year and first shipment of 60,000 tonnes is expected in July; the demand is expected to be around 710 million tones, while the coal will be imported from Indonesia and South Africa.

mjunction is planning to sell coal through its division coaljunction, formed for e-auction of coal and which conducts e-sales on behalf of Coal India (CIL) and its subsidiaries. This venture has proved profitable to CIL.

Mjunction is the 50:50 JV of Tata steel and SAIL. The details on the sale value are not disclosed, however, sale of imported coal will be coaljunction's own offering and is will follow a model different from existing model of e-sales.