Adani Enterprises, 10 others show interest in coal import tenders of Coal India

Adani Enterprises, Mohit Minerals, and Chettinad Logistics are among the eleven coal importers to have shown interest in the bidding for coal import tenders led by Coal India (CIL). During the pre-bid meeting, the interest bidders requested amendments in narrowing the time window of the bid price validity from 90 days to 60 days.

In its regulatory filing on Tuesday, Coal India announced a total of eleven coal importers joined the session with the company's officials. The prominent Indian agencies among them were Adani Enterprises Limited, Mohit Minerals, and Chettinad Logistics Private Limited. A couple of coal exporting agencies from abroad also have shown interest including one from Indonesia.

Also, Coal India said important amendments in the tender that the bidders requested were, narrowing the time window of the bid price validity from 90 days to 60 days.

Coal India, the largest coal producer in the world, held a three-day pre-mid meeting from June 14 to June 17 with prospective coal importing agencies evincing interest in pitching in, in the three international competitive bidding e-tenders that the company had floated earlier in the month for import of coal.

The overseas sourcing of coal by Coal India was as directed by the government.

The pre-bid meetings were held to help the bidders keen on competing in the process, gain a better understanding of the bid document, scope of work, and its finer shades, and importantly iron out the crimps.

Among other amendments proposal from the interested bidders, were fixing the time period for the supply of the first tranche of shipment, from the date of the letter of award, between 4 and 6 weeks. Earlier, the supply schedule was based on a particular percentage of delivery in each of the months of the second quarter of FY'23.

Finding the amendments favourable, Coal India amended the bid document and a corrigendum has already been floated on the e-procurement portal to hasten the process without any bumps.

Further, for the coal that lands on Indian shores, coal quantity assessment, and quality testing will have to be done through Coal India's empaneled third-party sampling agencies.

Previously, Coal India had floated a short-term indent based international competitive bid for 2.416 million tonnes (MTs) of coal to source coal from overseas on behalf of State gencos and Independent Power Plants (IPPs) for blending with the domestic coal.

Later on, two more medium-term tenders for sourcing 3 MT each at the western and eastern ports of the country were floated to keep coal on tap for immediate availability and future use.

The last date or receipt of bids for short-term tender is set on June 29, while for the medium term the deadline is July 5.

On BSE, Coal India shares closed at ₹184.85 apiece down by 4.49%.