Coal India to source 6 MTs more coal from overseas, floats medium-term tenders
Premium- The CIL has floated these tenders which have an option of increasing the bid quantity by 100% to 12 MTs.
Amid the urgency to shore up the coal stocks at the indigenous coal-based power plants, state-owned Coal India Limited (CIL) on 10 June floated two international competitive bidding e-tenders of 3 million tonnes (MTs) each.
The CIL has floated these medium-term tenders to source coal from overseas, which have an option of increasing the bid quantity by 100 per cent to 12 MTs, it said in a stock regulatory filing on 10 June.
"The tenders are not indent based but to keep coal on tap for immediate availability and use in future. It is an advance action by CIL in fortifying future supplies and keeping a vendor ready," the CIL statement said.
Coal India further said that as and when indented by the state gencos and independent power plants orders will be placed to ship the coal into the country. "From the date of placing the indents delivery of coal would be made within 30 days at the free on rail destination of the power plants which seek coal. This means delivery at the doorstep," it added.
The PSU has identified nine destination ports for the discharge of coal -- 3 MTs each at the eastern and western coasts of the country. CIL has estimated the value of the work to be pegged at ₹3,850 crore for each tranche of 3 MTs.
The new move by the state-run firm comes close on the heels of a short-term e-tender of similar nature that the state-owned coal mining behemoth issued on 8 June. The last date for submission and opening and the bids received has been set as 5 July, 2022.
"Though CIL is on its full steam in scaling up the production to meet the domestic demand of the country, this is a step towards a state of readiness to combat futuristic coal supply crunch if any," the statement added further.
Earlier on 9 June, CIL floated its maiden international bidding tender, seeking bids for the import of 2.416 million tonnes of coal.
It has said that the coal is being sourced on behalf of the state power generating companies (gencos) and independent power plants (IPPs) based on the indents received from them. The import would be for the July-September period.
Also, CIL added a provision in the tender to accommodate a variation of above or below 30% of the bid quantity. The coal being sought is 5,000 GAR (gross as received) thermal grade coal, it added.