* CIL likely to import 15MnT coal
* NTPC shown no interest to import through CIL
* Buyers will be paying 90% payment in advance
State owned coal miner, Coal India (CIL), has indicated that they may import around 15 million tonnes (MnT) of coal for power utilities fuel supply agreement (FSA) commitment.
CIL Director (Marketing) Mr. B.K. Saxena mentioned to shareholders in Annual General Meeting “We have received interest for 15 million tonnes from IPPs (independent power producers) and state owned entities,”.
Mr. Saxena also said to media, around 55-60 companies, majorly private power producers, Damodar Valley Corporation and State generation companies are interested to receive imported coal from CIL under FSA.
However CIL has proposed to supply imported coal to interested companies in FY 15.
Regarding NTPC, he mentioned NTPC is not seeking any assistance on coal import from CIL and they will import by their own.
To import coal on behalf of CIL, they likely to float tender through state owned trading agencies like MMTC, STC etc. within this fiscal.
Mr. Saxena has added that the coal buying contract is to be reviews which will be for one year for buyer, however, supply contract will be for 18 months with supplier.
Coal India will be supplying 65% of the quantity from the sources and other 15% will be supplied through imports under the new FSA.
For the additional cost of imported coal CIL will pass the charge to buyers at landed cost plus a service charge and there will be no subsidy in pricing. Also buyers will be paying 90% in advance.
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