NEW DELHI: Coal India Ltd has shortened the validity of price bids in its first-ever coal import tenders from 90 days to 60 days after prospective suppliers cited market volatility to seek several changes.
The changes were sought by 11 prospective suppliers, including at least two from Indonesia, at pre-bid meetings earlier this week. Indian participants included Adani Enterprises, Mohit Minerals and Chettinad Logistics, the company said but did not name the overseas participants citing their confidentiality conditions.
CIL has also accepted the suggestion to set the delivery period for the first tranche of shipment between four and six weeks from the date of contract award. The tenders had originally based on the supply schedule on a particular percentage of delivery every month during the July-September quarter.
CIL has floated three tenders for importing over 8 million tonnes of coal for power generation. The first tender of 2.4 million tonnes is based on indents from state utilities and private generation companies.
The remaining two tenders are for three million tonnes each aimed at supplementing domestic supplies and raising fuel inventories at power plants.
The first tender closes on June 29, while the two medium-term tenders close on July 5.
