Coal India issues 6 mln tonnes imported coal tenders
Coal India, the world’s largest coal miner by output, has issued two tenders to import 6 million tonnes of coal for utilities in the next 12 months, it said on Friday, as the government seeks to boost fuel availability.
This follows another tender the state-run miner issued on Thursday to import 2.42 million tonnes of coal by the end of September.
Coal India (CIL), which has little experience in importing coal, was asked to place orders for shipments from overseas by the power ministry as utilities suggested multiple tenders would lead to confusion and sought centralised procurement through CIL.
The company said in a statement it expected each of the equal-sized tenders for supplies to the country’s eastern and western coasts to be worth about 38.50 billion Indian rupees ($494.7 million). CIL has an option to double the quantities under both tenders, it added.
The last date of bid submission is July 5.
Coal India wants to tap the fuel supplies as and when requested by utilities, it said.
“It is an advance action by CIL in fortifying future supplies and keeping a vendor ready,” it said.
The company seeks delivery of coal within 30 days of placing the order in parcel sizes of 50,000 tonnes.
Source: Reuters (Reporting by Nidhi Verma; Editing by Emelia Sithole-Matarise)