Premium| Listen to this article |
Adani Enterprises today informed the stock exchanges that NTPC has awarded contract to the Company for supply of 1.00 MMT of imported coal to its various power plants.
The contract has been awarded by NTPC through an elaborate bidding process, started in end of October 2021 followed by reverse bidding 8- negotiations. The quantum of this order is a small quantity in overall import coal business of the Company, Adani enterprises said.
To put the things in perspective, Adani Enterprises said that till 2015-16 NTPC was procuring imported coal in excess of 10 MMT and total imports of coal in state owned power sector in 2015-16 was around 45 MMT.
On Kolkata-based Damodar Valley Corporation Ltd angle, Adani Ent said it is a fact available in public domain that NTPC has invited tenders, around same time, on behalf of DVC for procurement of 1.00 MMT imported coal for plants of DVC.
The company has submitted its offer against this tender also. However, Adani company said it has no information or communication either from DVC or from NTPC on this tender.
"There is nothing so significant/ material in award of a small contract which merits announcement to the stock exchanges. It is part of routine business activity. Incidentally, 1.00 MMT quantity is merely 2% of the likely volume of import coal trade business of AEL in 2021-22."
On Thursday, Adani Enterprises shares were down 0.26% to close at ₹1,711 on NSE.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!