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Wednesday, January 18, 2012

CIL to invite fresh bids for Mozambique blocks

Wednesday, 18 Jan 2012
ET reported that state run CIL will call for fresh bids for exploration of its two blocks in Mozambique that houses about one billion tonnes of reserves of coal.

A top company official told PTI that “Coal India will float fresh tenders for exploration of Mozambique blocks as the firm shortlisted during the second tender in June had put some additional conditions. As a result the tender became invalid.”

The production from the twin mines is scheduled from 2015 but analysts said it may get delayed as Coal India is yet to to zero in on a company for exploration.

CIL had invited tenders twice first in 2010, which was cancelled due to shortcomings and the second in June, 2011 for exploratory drillings of its blocks.

The two coal blocks A1 and A2 are spread over an area of 200 sq km and their exploration may take over two years, as per CIL. The company had planned production from blocks from 2015.

Coal India Africana Limitada a wholly owned subsidiary of CIL, had won a five year licence for exploration and development of the blocks in Mozambique in August, 2009.

CIL, which accounts for over 80% of the domestic production, is scouting for coal properties abroad to bridge the widening demand supply gap estimated at 142 million tonnes in the current fiscal.

(Sourced from ET)

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