Business Line reported that an Adani Group company has emerged as the lowest bidder for importing 4 million tonnes of steam coal for the country's largest power producer NTPC Ltd.

Sources privy to the development told Business Line that NTPC had floated a tender in November for importing 4 million tonne of steam coal in 2011-12 to meet its current requirements and received 7 bids. The techno commercial bids were opened in January.

As per report, NTPC is seeking 1 million tonne imported coal for its Talcher Thermal and Talcher Kaniha power plants, 1 million tonne for its Farakka and Kahalgaon plants, 0.5 million tonne for Simhadri and Ramagumdam plants, 0.8 million tonne for Dadri, Rihand, Singrauli, Tanda, Unchchar and Vindhyachal plants, and 0.7 million tonne for it Korba and Sipat plants.

NTPC is looking for long term contracts for sourcing coal to ensure that the company has secure fuel supplies for its projects as well as protecting itself from volatility in pricing.

(Sourced from thehindu.co.in)