Adani Enterprises bags deal to provide imported coal to NTPC

14 Jan 2022 CW Team

Adani Enterprises has bagged an agreement to provide imported coal to state-owned electricity producer NTPC but played down its importance saying the volume of 1 million tonnes was small.

Adani Enterprises, in a stock exchange filing, said that NTPC has granted the agreement to the firm for the supply of 1 million tonnes of imported coal to its several power facilities.

It said that the deal was granted by NTPC via an elaborate bidding process (that) began at the end of October 2021, followed by reverse bidding and negotiations.

As the news of NTPC getting coal from Adani got traction on social media, the group explained that the quantum of this order is a small quantity in the overall import coal business of the firm.

Till 2015-16 NTPC was procuring imported coal of over 10 million tonnes and total imports of coal in the state-owned power sector in 2015-16 was approximately 45 million tonnes, the firm said. NTPC had invited bids on behalf of Kolkata-based Damodar Valley Corporation Limited (DVC), additionally state-owned for the acquisition of 1 million tonnes imported coal for plants of DVC.

The firm has presented its offer against this proposal also. But, the firm has no data or communication either from DVC or from NTPC on this proposal, Adani Enterprises Limited (AEL) told the media.

Replying to a stock market notice, it said that there is nothing so vital or material in an award of a small agreement that merits announcement to the stock exchanges. It is part of everyday business activity, it said. Incidentally, 1.00 million tonnes quantity is only 2% of the potential volume of the import coal trade business of AEL in 2021-22.

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