Adani Enterprises says it has won tender for supply of imported coal to NTPC – World Affairs SRS

Adani Enterprises says it has won tender for supply of imported coal to NTPC

– World Affairs SRS

Billionaire Gautam Adani’s port-to-energy conglomerate on Thursday said it has won a contract to supply imported coal to state-owned power generator NTPC, but downplayed its importance, saying the quantity of one million tonnes was less. .

“NTPC has awarded contract to the company for supply of 1 million tonnes of imported coal to its various power plants,” Adani Enterprises said in a stock exchange filing.

The contract, it said, was awarded by NTPC through “an exhaustive bidding process (which) commenced at the end of October 2021, thereafter through reverse bidding and negotiations.”

The news of NTPC sourcing coal from Adani was gaining momentum on social media, with the group clarifying that “the volume of this order is a small amount in the company’s overall import coal business.”

“To put things in perspective, it may be noted that as of 2015-16, NTPC was procuring more than 10 million tonnes of imported coal and the total import of coal in the state-owned power sector in 2015-16 was approx. 45 million tonnes.” The company said.
NTPC had also floated a tender on behalf of Kolkata-based Damodar Valley Corporation Limited (DVC) for procurement of one million tonnes of imported coal for DVC’s plants.

Adani Enterprises Limited (AEL) said, “The company has also submitted its offer against this tender. However, the company has no information or communication from DVC or NTPC on this tender.”

Responding to the stock market notice, it said, “There is nothing so material/material in the award of a short contract as to be worthy of declaration by the stock exchanges.”

“It is part of regular business activity,” it said. “Incidentally, the 100 million tonnes volume is only 2 per cent of the potential volume of AEL’s import coal trading business in 2021-22.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from a syndicated feed.)

                                                    </div><div style="background: #fee8dd; padding: 12px; border: dashed 1px black; margin-bottom: 20px;">

mail Dear reader,

Business Standard has always worked hard to provide updated information and commentary on events that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only reinforced our resolve and commitment to these ideals. Even during these difficult times arising out of COVID-19, we are committed to keeping you informed and updated with relevant news, authoritative views and scathing comments on relevant relevant issues.
However, we have a request.

As we grapple with the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. Subscribing to more of our online content can only help us achieve our goals of providing you with better and more relevant content. We believe in independent, unbiased and credible journalism. Your support through more subscriptions can help us practice the journalism we’re committed to.

support quality journalism and Subscribe to Business Standard,

digital editor



this is an unedited and auto-generated supporting article of the syndicated news feed are actualy credit for owners of origin centers. intended only to inform and update you about Sakari naukri , result , UPSC , Exam Jobs etc. for Provides real or authentic news. also Original content may not have been modified or edited by Rojgar samachar team members.

Leave a Reply