Coal India Ltd. (COAL) is seeking 20 million metric tons of the fuel in May as part of its planned imports of 250 million tons of coal over a decade.The world’s biggest coal producer may award the contract for this year’s first batch of imports to be delivered starting July, said a Coal India official, who declined to be identified because the tender is confidential. The company had received responses from about 26 companies to supply coal under a long- term contract, he said. The tender in May will specify quantity, grades, prices and volume, according to the official.
India’s need for coal has been spurred by the expansion of power generation and steel-making capacity to meet demand in Asia’s second-fastest growing major economy. State-owned Coal India has carried forward 60 billion rupees ($1.4 billion) for overseas acquisitions after the amount wasn’t used in the year ended March 31, Chairman N.C. Jha said yesterday. The company plans to acquire mines in Australia, Indonesia and the U.S.
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