Additionally, coaljunction, a strategic business unit of mjunction dedicated to e-sale of the feedstock, also plans to launch a coal spot price index covering all grades of coal sold though e-auction and to serve as a barometer for price movement in the country, he said.

Promoted by the state-owned Steel Authority of India and the private sector Tata Steel, mjunction posted record 50 percent growth in recession-hit 2008-09, registering a transaction value of Rs.14,393 crore.

'Our aim is to maintain a robust growth rate to achieve a transaction value of Rs.22,000 crore in 2009-10,' he said.

'We are working on achieving a target of Rs 50,000 crore as our annual transaction value by 2012-13.'

Oberoi said mjunction, the largest e-marketplace for steel in the world, having sold over four million tonnes , plans to expand its product range by adding manganese ore, coal, chemicals, iron ore and slime.