Kolkata, Sep 18 IANS | 2 years ago

The world's largest coal miner, Coal India Ltd. (CIL), is in the process of importing 15 million tonnes of the black gold for power utility companies, a company official said here Wednesday.

"About 55 to 60 power plants have indicated that they want imported coal from us, including the DVC (Damodar Valley Corporation). We are in discussion and likely to import about 15 million tonnes of coal," CIL director (marketing) B.K. Saxena said after the Maharatna's 39th annual general meeting here.

Saxena also categorically said the National Thermal Power Corporation was not among those who have sought imported coal.

He said the import would be made through government-owned trading firms like MMTC and State Trading Corporation and tenders would be floated soon to select the importing agency.

"We hope to supply the imported coal to them (power companies) from 2014-15 financial year. The coal supply agreement with buyers would be for one year, subject to review, but for suppliers it will be for 18 months," Saxena said.

CIL has signed about 140 fuel supply agreements (FSAs) committing 80 percent assured supply of coal to power stations with a total generating capacity of about 60,000 MW.

(Posted on 18-09-2013)