Coal India has followed up its short-term tender to import 2.4 million tonnes of coal with two more medium-term tenders of 3 million tonnes each on Friday to urgently shore up coal stocks at power plants.
Unlike the short-term tender, these are not indent-based, but to keep coal on tap for immediate availability and use in future. As and when the state power generating companies and independent power plants place orders, coal will be available within 30 days at the power generating units.
Also, compared to the short-term tender, where there is a provision to accommodate a variation of above or below 30 per cent of the bid quantity, in the medium-term tenders there will be an option to increase the bid quantity by 100 per cent to 12 million tonnes.
