NTPC awards coal import tenders worth Rs 6,000 crore to Adani Enterprises

India’s largest energy producing firm (genco) Limited has awarded a number of coal import contracts for six.25 million tonne (MT) to Adani Enterprises at a cumulative worth of Rs 6,585 crore. The state-owned genco is importing coal to meet the latest directive of the Ministry of Power to mix 10 per cent imported coal so as to deal with home coal scarcity.

 

The firm positioned six completely different tenders and acquired technical bids from 4 gamers – Ahmedabad based mostly Adi Tradelink, Chennai-based Chettinad Logistics, and Delhi-based Mohit Minerals Ltd together with Adani Enterprises.

In March, when the coal disaster erupted, had issued 5 tenders for importing 5.75 MT of coal, and all of the contracts went to Adani Enterprises. The cumulative quantity of those tenders was Rs 8,422 crore. The technical degree bidders had been the identical one as within the newest spherical.

 

Company executives had earlier mentioned that the imported coal would come from Indonesia and shouldn’t be trying to import from Australia. Adani owns and operates Carmichael coal mine in Australia with a capability of 10 MT every year.

 

NTPC is within the strategy of inserting orders for shut to 20 MT of imported coal to meet the federal government stipulated mixing goal of 10 per cent. A senior firm government instructed this paper, 2.5 MT of imported coal has arrived at NTPC’s crops and 1.6 MT is on the ports. “The firm has positioned an order for 10 MT and would quickly go for the Board’s approval for putting an order for one more 5 MT,” mentioned the particular person.

 

This paper just lately reported NTPC would see its gas value go up to Rs 7-8 per unit from importing coal as in opposition to Rs 2 per unit from shopping for home coal from nationwide miner Coal India Limited (CIL). Senior officers mentioned this is able to enhance the ultimate electrical energy tariff of NTPC by 50-70 paisa which might be handed on to shoppers.

 

Coal value within the world market is at the moment 5 occasions the CIL notified coal costs. The imported coal can be utilized in a number of stations of NTPC, even those nearer to a coal mine reminiscent of Talcher, Farakka and Kahalgaon.

 

Acknowledging that home coal inventory shouldn’t be sufficient to meet the facility demand within the nation, the Centre two weeks again directed all states and energy producing to import coal earlier than the monsoon units in. The Ministry of Coal has, nevertheless, maintained that there’s sufficient inventory within the nation and gencos ought to fill up upfront.

Graph

 

Graph

 

Dear Reader,

Business Standard has all the time strived onerous to present up-to-date info and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on how to enhance our providing have solely made our resolve and dedication to these beliefs stronger. Even throughout these tough occasions arising out of Covid-19, we proceed to stay dedicated to conserving you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.

We, nevertheless, have a request.

As we battle the financial influence of the pandemic, we want your help much more, in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We imagine in free, truthful and credible journalism. Your help by extra subscriptions might help us practise the journalism to which we’re dedicated.

Support high quality journalism and subscribe to Business Standard.

Digital Editor

Leave a Reply

Your email address will not be published.

Friday MEGA MILLIONS® jackpot is $660 million