Adani lowest bidder in Coal India’s maiden import tender, miner could negotiate worth

Adani Enterprises has emerged because the lowest bidder in Coal India’s tender for imports of the dry gas with quoting over Rs 4,000 crore for provide of two.416 million tonne, although the miner is prone to “negotiate the price”, an official stated on Monday.

A negotiation for the quoted worth could happen because the hole between the bottom bid worth and the miner’s personal estimates of Rs 3,100 crore is in extra of round 30 per cent, he stated.

“Adani’s bid is the lowest but it is Rs 900 crore more than the Coal India’s own estimate. Officials of the miner are discussing among themselves about the price quoted by the lowest bidder. There is a high possibility that price will be further negotiated,” the official instructed PTI.

Adani Group and one other 10 firms had proven pursuits for the miner’s maiden coal import tender for provide of the dry gas on a freight-on-road (FOR) foundation.

This tender was floated for the short-term provide based mostly on the indent obtained from state energy producing firms, the official stated.

Meanwhile, the final date for submission of bids for an additional two tenders for supplying of six million tonne of imported coal is on Tuesday.

A board assembly to finalise the tenders has not been mounted and is predicted after the second tender is opened, the official stated.

Mohit Minerals and Chettinad Logistics and a few coal exporting businesses from overseas had been amongst those that had proven pursuits within the CIL’s tender for coal imports.

The Ministry of Power has requested energy producers to import 10 per cent of their coal necessities for mixing, and the job has been entrusted to Coal India on behalf of the gencos (energy producing firms).