CIL gets single bid from MMTC for coal import contract

Tags: CIL, Coal, MMTC, Industry
Coal India Ltd (CIL) received a single expression of interest from MMTC for its plan to import the fuel to meet supply agreements with power plants.

"We are still in the process of evaluation of the expression of interest," an official of the state-owned coal mining company said.

Coal India, which received an application from MMTC in response to the tender floated at the beginning of this year, "will try to finalise it by next month," the official said, declining to comment on the proposed quantity of imports for this financial year.

"It is too early to say until we get consent from the consumers," the official said, adding that the company did not import coal in the previous financial year because the requirement of consumers was less.

The world's largest coal miner had to invite fresh applications after an earlier tender elicited no response.

CIL had first invited bids for coal imports in November 2013. It had said in September that it may import 15 million tonnes of coal for power utilities as part of meeting supply commitments to power utilities.

The company's tender was "for selection of agency from government department or government-owned company or public sector entity for supply of imported coal."

CIL Chairman and Managing Director S Narsing Rao had said there was no response to the tender floated earlier as potential bidders such as STC and MMTC had expressed some apprehensions and that the company would "float a fresh tender any time."

Rao had said the company intends to import 5 million tonnes of coal to meet the shortfall against deliveries under fuel supply agreements (FSAs) signed with power plants.

According to the FSA, Coal India will supply 65% of the contracted amount from domestic sources and another 15% through imports.

EDITORIAL OF THE DAY

  • Right to reveal

    Delhi is India’s first state to announce a scheme for witness protection. But what about the witnesses in other states?

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture