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Monday, March 5, 2012

Adani Enterprises to supply coal to NTPC

March 05, 2012

Adani Enterprises will supply 4MT of coal imported from global sources between March to June 2012 to NTPC’s 14 power stations.Adani Enterprises, part of the Adani Group, has signed five agreements for supply of imported coal with NTPC Ltd, the country’s largest power generation company.

Adani Enterprises will supply 4 million tonnes (MT) of coal imported from global sources between March to June 2012 to NTPC’s 14 power stations across India. The imported coal is required to meet the coal blending requirements of the NTPC power stations.

The company will supply 1MT of imported coal to NTPC’s Talcher power stations, 1MT for Farakka and Kahalgaon stations, 0.5MT for Simhadri and Ramagundam stations, 0.8MT for Dadri, Rihand, Singrauli, Tanda, Unchchar and Vindhyachal stations and 0.7MT for Korba and Sipat stations.

Adani Enterprises is India’s largest importer of coal with a market share of over 50 percent with almost all the state-run power utilities in India as its customers. It is developing and operating mines in India, Indonesia and Australia as well as importing and trading coal from many other countries.

The company is expected to mine 200MT tonnes of coal per year in 2020, making Adani one of the largest mining groups in the world. In the late afternoon, Adani was trading at around Rs356 per share on the Bombay Stock Exchange, 0.47% down from the previous close.

(sourced MoneyLife.in)

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