Advertisement
Friday, Aug 12, 2022
Outlook.com
Outlook.com

Adani Group Wins Tender To Supply 1 Million Tonnes Of Imported Coal To NTPC

The contract, it said, was awarded by NTPC through "an elaborate bidding process (that) started at the end of October 2021, followed by reverse bidding and negotiations."

Adani Group Wins Tender To Supply 1 Million Tonnes Of Imported Coal To NTPC
Adani Group Wins Tender To Supply 1 Million Tonnes Of Imported Coal To NTPC
outlookindia.com
2022-01-07T12:21:13+05:30

Billionaire Gautam Adani's port-to-energy conglomerate on Thursday said it had won a contract to supply imported coal to state-owned electricity generator NTPC but played down its significance saying the volume of 1 million tonnes was small.

"NTPC has awarded the contract to the company for the 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 elaborate bidding process (that) started at the end of October 2021, followed by reverse bidding and negotiations."

As the news of NTPC sourcing coal from Adani got traction on social media, the group clarified that "the quantum of this order is a small quantity in overall import coal business of the company."

"To put things in perspective, it may be noted that till 2015-16 NTPC was procuring imported coal in excess of 10 million tonnes and total imports of coal in the state-owned power sector in 2015-16 was around 45 million tonnes," the company said.

NTPC had also floated a tender on behalf of Kolkata-based Damodar Valley Corporation Ltd (DVC), also state-owned, for procurement of 1 million tonnes imported coal for plants of DVC.

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

Responding to a stock market notice, it said "there is nothing so significant/ material in an award of a small contract which merits announcement to the stock exchanges."

"It is part of routine business activity," it said. "Incidentally, 1.00 million tonnes quantity is merely 2 per cent of the likely volume of import coal trade business of AEL in 2021-22."

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement