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Apr 06, 2014, 02.34 PM IST | Source: PTI

CIL gets single bid from MMTC for coal import contract

The world's largest coal miner had to invite fresh applications after an earlier tender elicited no response.

CIL gets single bid from MMTC for coal import contract

Coal India  Ltd (CIL) received a single expression of interest from  MMTC for its plan to import the fuel to meet supply agreements with power plants.

"We are still in the process of evaluation of the expression of interest," an official of the state-owned coal mining company said.

Coal India, which received an application from MMTC in response to the tender floated at the beginning of this year, "will try to finalise it by next month," the official said, declining to comment on the proposed quantity of imports for this financial year.

"It is too early to say until we get consent from the consumers," the official said, adding that the company did not import coal in the previous financial year because the
requirement of consumers was less.

The world's largest coal miner had to invite fresh applications after an earlier tender elicited no response.

CIL had first invited bids for coal imports in November 2013. It had said in September that it may import 15 million tonnes of coal for power utilities as part of meeting supply
commitments to power utilities.

The company's tender was "for selection of agency from government department or government-owned company or public sector entity for supply of imported coal."

CIL Chairman and Managing Director S Narsing Rao had said there was no response to the tender floated earlier as potential bidders such as STC and MMTC had expressed some apprehensions and that the company would "float a fresh tender any time."

Rao had said the company intends to import 5 million tonnes of coal to meet the shortfall against deliveries under fuel supply agreements (FSAs) signed with power plants.

According to the FSA, Coal India will supply 65 percent of the contracted amount from domestic sources and another 15 percent through imports.

Coal India stock price

On July 25, 2014, at 12:29 hrs Coal India was quoting at Rs 382.15, down Rs 2.9, or 0.75 percent. The 52-week high of the share was Rs 423.50 and the 52-week low was Rs 238.35.


The company's trailing 12-month (TTM) EPS was at Rs 23.76 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 16.08. The latest book value of the company is Rs 56.24 per share. At current value, the price-to-book value of the company is 6.79.

READ MORE ON  PTI, Coal India, MMTC, FSA, S Narsing Rao
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