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Coal India Ltd has offered an additional five million tonnes of coal to the country’s largest power generator, NTPC, with tweaked terms to reduce the pithead stock.
According to Coal India officials, the company has offered five mt of coal to NTPC which needs to be lifted via road to reduce import. Coal is normally transported by rakes as per fuel supply agreement.
The Coal Ministry had pulled up Coal India and wanted the miner to dilute its pithead stock by 10 mt from about 21 mt as of September to push supplies in the festive season.
The officials said that against the normal supply term of cash and carry, the release of five mt against this offer shall be made on a credit basis without insisting on any advance payment. NTPC would make the payment after receipt of invoices.
CIL has asked NTPC to immediately contact its subsidiaries to avail themselves of the benefit of the offer and to lift the coal within 30 days of release, the officials added.
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