Adani to benefit from India’s shift to import coal

Gautam Adani’s conglomerate is benefiting from India’s rush to import coal to ease a supply crunch, winning a huge majority of import orders from NTPC. The company has placed orders for 20 million tonnes of imported coal for the fiscal year ending March, of which almost 17.3 million tonne have been awarded to Adani Enterprises. Cooling demand during a sweltering summer and a post-pandemic industrial revival has pushed India’s electricity consumption to a record and overwhelmed local coal supply, prompting the government to urge companies to turn to imports. Coal India, the state-run supplier of the fossil fuel, issued a first-ever import tender in June.