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Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS


COALspot.com: State Trading corporation of India, which is under  Ministry of Commerce, has invited Expression of Interest from coal suppliers from around the world to become associates of STC to supply coal to state owned utilities such as NTPC, DVC, WBPDCL, NALCO etc. The companies who are interested to join STC, require to provide number of information about their company structure, past experiences, financial condition and other technical related information. 

9th July 2010 was the last day for submission of EoI to STC. We understand around 13 Indian and international companies have submitted their EoI to joint with STC to supply coal to Indian state owned utilities through STC. According to a source,"in future state owned utilities might buy coal through STC or MMTC using index base pricing instead of current cumbersome and time consuming tender procedure". 

Leading Indian and International trading companies such as Adani Enterprises Limited, Bhatia International Limited, Coastal Energy Private Limited , Knowledge Infrastructure  System, Maheswari Brothers, Swiss Singapore Overseas Enterprises Pre Ltd., Singapore, MCS Holdings Pte Ltd., Singapore, Noble Resources Pte Ltd., Vyon Tradelinks Pte Limted, Sri Avantika Contractors (I) Ltd, Trasteel International SA, Lanturno Nisper Coal Trading SA, Vandana Global Ltd have submitted their EoI. 

The name of qualified companies are expecting within couple of days after evaluation, verification process by STC. STC might Choose number of companies as its associates for this financial year.

The similar invitation was also floated by MMTC around 3 weeks back and understand several Indian and international trading companies have already submitted their EoI for evaluation. The announcement of names of qualified suppliers will be expecting any time next week. 

The New Commerce minister of India, is showing his seriousness to establish professional system within state owned  trading companies for sourcing or marketing. State owned trading or supplying companies are playing major roll when state owned utilities are in market for its raw material. The traditional tender system was critics by participants due lack of transparency, unclear technical requirement or other qualification related procedures.



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