Coal news and updates

Gupta Coal to supply imported coal to Aravali Power from Feb

November 15: Gupta Coal India Limited will have to commence supplies to Aravali Power Company Private Limited, a joint venture of NTPC, HPGCL and IPGCL, at Jhajjar in Haryana, from February 2014, an industry source said.

"The company had emerged L2 in the global tender floated by the power generator and had won the contract to supply 40% of the tendered quantity or 0.75 million tons (mt) coal at matched L1 price of about $87-88 per ton CFR," the source said.

Adani Enterprises had emerged L1 supplier in the tender and its quota of supplies is likely to finish by January 2014.

The quoted price for supply of 6,300 Kcal/kg ADV material or 6,000 Kcal/kg GAR was linked to some indices.

"The order was placed 5-6 months back and, since then, the index has fallen considerably, but that will not affect the margins of the suppliers," the source said.