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.)

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