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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (37566)	5/24/2009 12:19:43 PM
From: LoneClone	Read Replies (1) \| Respond to of 195121

MMTC to import 12.5 million tonne of thermal coal for NTPC Sunday, 24 May 2009 steelguru.com PTI reported that MMTC Limited will import 12.5 million tonne of coal this fiscal for the country’s largest power producer, NTPC. MMTC has invited bids for purchasing coal to meet the requirements of the power major. The bids would have to be submitted by June 4th and would be evaluated the same day. The trading firm said according to the Central Vigilance Commission guidelines, the bid would be split in the ratio of 60:40 considering the nature of the fuel. Thus, the lowest bidder would supply 60% of the quality and remaining 40% would be purchased from the second lowest. It said besides importing coal, the successful bidders would be responsible for making all arrangements for delivering the dry fuel at NTPC’s thermal power stations. The power company would only arrange for unloading of coal from railway wagons at their electricity generation plants. During this fiscal, NTPC requires close to 150 million tonne of coal. Since the imported coal has a higher calorific value, the 12.5 million tonne of dry fuel would meet around 20 million tonne of fuel demand of NTPC. Meanwhile, NTPC had imported nearly 5 million tonne of coal of the targeted 8.2 million tonne during 2008-09 for meeting its requirement of 125 million tonne.