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State-run Coal India Limited on June 9 for the first time floated an international competitive bidding e-tender, seeking bids for the import of 2.41,6 million tonnes (MTs) of coal, it said in a stock regulatory filing.

"The coal being sourced on behalf of the state generating companies (gencos) and independent power plants 0PPs) is based on the indents received from them for the July-September period of the current fiscal year," the official statement said.

The firm has set the last date for the receipt of bids as 29 June. However, an option of the pre-bid meeting to seek clarification on any nuances of the tender has been set as 14 June.

ALSO READ: Coal India to import coal for supply to states: Report

In the bid, CIL has kept a provision to accommodate a variation of above or below 30 per cent of the bid quantity. Also, the coal being sought is 5,000 GAR (gross as received) thermal grade coal, the PSU added.

Citing the high demand for coal in the country, the union government had nominated CIL as a centralized agency to augment coal supplies to state gencos and IPPs through the import of coal.

On 2 June, the CIL board gave its nod for the firm to proceed ahead with the issuance of two international tenders for sourcing coal from overseas, a short term and a medium-term tender.

According to the approval, the current short term tender for the import of coal, for Q2 of FY'23, is source agnostic, which means the coal can be sourced from any country.

ALSO READ: India's coal production rises by 34% to 71.30 MT in May

The PSU has finalised and floated the tender after it received indents from the 7 State Gencos and 19 IPPs, for a total of 2.41.6 MTs of coal.

Following the price discovery, the state-owned coal miner will immediately execute a contract with the successful bidder for the supply of coal, following which CIL would enter into a back to back agreement with state gencos and IPPs to whom coal has to be supplied.

Adding more, CIL said that the coal imported will be routed through 9 ports located on the east and west coasts of the country. The successful agency -- selected through the bidding process -- would deliver coal at the doorstep of the power plants of state gencos and IPPs, it said.

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