Adani emerges as lowest bidder in CIL import tender

Adani Enterprises has emerged as the lowest bidder in Coal India’s (CIL) first coal import tender floated on behalf of power generation companies. Adani Enterprises quoted Rs 4,033 crore for the supply of 2.416 million tonne (mt) of coal on a freight-on-road (FOR) basis. Mohit Minerals was next with a Rs 4,182 crore bid, followed by Chettinad Logistics at Rs 4,222 crore. This imported coal will go to seven state-generating companies and 19 private power plants. Adani Enterprises has bagged multiple coal import contracts from NTPC between January and June. The Adani Group in December last year shipped out the first consignment of coal from its Carmichael mines in Queensland, Australia. Industry insiders said it is also eyeing Coal India’s two e-tenders totalling 6 mt, for which bids have to be submitted. “The bids received are being looked into and will require approval from Coal India’s board,” a government official said. CIL had earlier said a total of 11 importers and some overseas traders had evinced interest in the pre-bid meeting. The government is looking at imported coal to build adequate stocks at power plants before monsoon rain hits coal mining and supply decreases. India’s power demand peaks post-monsoon due to high agricultural consumption and warm weather conditions.