Coal India asks power firms to contact it for coal import for FY16
Coal India has asked power firms to contact its supplying companies in case they need to import coal through them for the coming fiscal. "In order to make necessary arrangements for supply of imported coal, interested and eligible power utilities are requested to approach the supplying coal companies immediately with whom they have signed for further course of action," Coal India (CIL) said in a notice. The PSU further said it offers to supply imported coal for the year 2015-16, under the provisions of fuel supply agreement (FSA) entered with the power utilities "in the post 2009 FSA model.
Coal and Power Minister Piyush Goyal had earlier said that CIL has received an order to import around 5 lakh tonnes of coal for the current fiscal. CIL had earlier said that the first shipment of 1.79 lakh tonnes of imported coal has landed at Mundra port and would be supplied to the power companies.
In terms of the Presidential Directives issued in 2012 and last year, CIL board had earlier decided that under fuel supply pacts for new power plants commissioned after 2009, out of the minimum assured quantity i.E 80 per cent of Annual Contracted quantity, 15 per cent shall be supplied from imported coal. It was decided that such imported coal supply was to be made through a PSU importing agency under a back to back supply agreement with the power plants opting to take imported supply from CIL. Accordingly, CIL engaged MMTC through a competitive bidding for arranging such imported coal.