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CIL coal import: Bid validity pruned to 60 days as bidders cite volatility – Times of India

NEW DELHI: Coal India Ltd has shortened the validity of worth bids in its first-ever coal import tenders from 90 days to 60 days after potential suppliers cited market volatility to search a number of modifications.
The modifications had been sought by 11 potential suppliers, together with no less than two from Indonesia, at pre-bid conferences earlier this week. Indian members included Adani Enterprises, Mohit Minerals and Chettinad Logistics, the corporate stated however didn’t title the abroad members citing their confidentiality situations.
CIL has additionally accepted the suggestion to set the supply interval for the primary tranche of cargo between 4 and 6 weeks from the date of contract award. The tenders had initially primarily based on the provision schedule on a specific share of supply each month through the July-September quarter.
CIL has floated three tenders for importing over 8 million tonnes of coal for energy era. The first tender of 2.4 million tonnes relies on indents from state utilities and personal era firms.
The remaining two tenders are for 3 million tonnes every aimed toward supplementing home provides and elevating gasoline inventories at energy vegetation.
The first tender closes on June 29, whereas the 2 medium-time period tenders shut on July 5.

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