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Friday, December 2, 2011

NTPC seeks fresh bids for coal

Friday, 02 Dec 2011

India’s biggest power producer NTPC is seeking fresh bids for 4 million metric tonnes of coal from overseas after scrapping a previous tender.

Mr Arup Roy Choudhury chairman of NTPC said that the utility has taken steps to promote competition this time after a disappointing response to the previous invitation.

Mr Choudhury said that NTPC previously invited bids by May 26 for a single contract to supply 4 million tonnes of coal needed at 14 of its power plants. This time, orders may be awarded to as many as five suppliers.

Coal production growth in India has slowed after delays in environmental approvals and land acquisition for mines. The commodity is used to fire more than half of the electricity generation capacity in Asia’s second-biggest energy consumer.

(Sourced from Bloomberg)

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