Adani Enterprises emerges as the lowest bidder in Coal India’s import tender

Adani Enterprises Limited has emerged as the lowest bidder in Coal India Limited’s (CIL) first coal import tender floated on behalf of power generation companies.

Adani Enterprises quoted Rs 40.33 billion for the supply of 2.416 million tonnes of coal on a freight-on-road (FOR) basis. Next, Mohit Minerals Private Limited and Chettinad Logistics Private Limited quoted Rs 41.82 billion and Rs 42.22 billion, respectively. A total of 11 importers and some overseas traders had shown interest in the tender during the pre-bid meeting. After the closing of bids, CIL will execute a contract with the successful bidder, entering into a back-to-back agreement with state gencos and independent power producers, who will get the imported coal. The bids received are being looked into and will require approval from CIL’s board.