Companies

Coal India to discuss new import norms on Saturday

Pratim Ranjan Bose Kolkata | Updated on March 09, 2011 Published on March 09, 2011


The Coal India board will take stock of the amended tender document for the 10-year thermal coal off-take (import) programme on March 12. In a pre-bid meeting in Kolkata on January 29, global miners suggested broad-based amendments, including relaxation in the bank guarantee clauses, in the tender documents.

The pre-bid meeting was attended by Adani group (India), Rio Tinto, Xstrata, Anglo American, Peabody, Massey Energy, Arch Coal, Murray Energy, Sinarmas and others. The participants were selected based on interests expressed by the miners to sell coal under such long-term agreements from assets in Indonesia, Australia, South Africa and the US.

Commenting on the amended bid document, a CIL official said that the changes were made based on the feedback received during the January 29 meet but without diluting the commercial interests of the company.

According to him, once approved by the board the Indian coal major will circulate the document among the shortlisted bidders for further feedback, if any.

Logistics JV

CIL and Shipping Corporation of India have decided to appoint a consultant to formulate the structure of the proposed logistics joint venture to facilitate the delivery of the imported coal to the buyer. Both the companies have already entered into a memorandum of understanding for the same.

To facilitate the delivery of coal within the country, CIL had also invited the Indian Railways to participate in the venture. However, sources say that the discussion is yet to take any formal shape.

Published on March 09, 2011
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