Wednesday, April 27,
Coal India Limited (CIL) has received 27 proposals from 16 companies for getting imported coal at discounted prices, a top company official has said.*
India’s growing hunger for coal to fuel its power plants is having a major impact on global coal demand and price movements. India’s coal imports are likely to witness a massive jump of 70% in this financial year to touch 142 MT compared with estimated imports of 84 MT required over the past financial year.
“We sought proposals from companies which are interested in supplying coal on a 10-year term basis at a discount price to meet the production-demand gap in India. We have received 27 proposals from 16 companies. Now the Request for Proposal (RFP) has been finalized,” said CIL chairman N.C. Jha.
“We will send the RFP to each of these companies and they have been advised to give in three weeks their proposals on quality and quantity of coal to be supplied. Once we receive that, we will finalize the contracts,” he added.
Disclosing that about 70 million tonnes of stock had piled up due to transportation problems, Jha said the Indian Railways had agreed to help by providing extra rakes.
“We have made a plan that this year will be observed as the year of coal off take. There will be more thrust on reducing our coal stocks. Indian Railways has promised us in this regard for which we will require 191 rakes per day on the average whole year basis,” he said.
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