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Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
 The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central Vigilance Commission seeking to know whether government norms were violated or tender conditions changed to tailor the deal to suit two private firms, top government sources said.
During UPA-1, it was decided that MMTC will import 12.5 million tonnes of coal for state-run generation utility NTPC. The import was to make up the shortfall in domestic supplies and help ramp up electricity generation. Accordingly, MMTC floated the tender on May 19 this year and gave 15 days for bidders to submit their quotes.
Three bidders are in fray after one firm was disqualified in the absence of earnest money deposit. While MMTC is yet to open the price bids, CVC has asked MMTC's chief vigilance officer to examine whether government procedures had been violated. The directive came after fingers were pointed at MMTC for the number of changes that were affected after the tender was floated.
TOI has tender documents and the amendments which show tender norms were changed thrice. This, complaint letters sent to CVC allege, was done to remove competition and ensure that only certain firms would fit the bill. Separate RTI documents also suggest that the same firm had been the lone qualified bidder in coal tenders floated by State Trading Corporation, another commerce ministry firm.
The documents also suggest that MMTC ignored facts which would have otherwise disqualified the two firms. It appears the aim was to restrict the order among the two firms since CVC norms allow splitting import orders between the lowest and second-lowest bidder -- who has to match the lowest price -- in the ratio of 60:40.
The documents also point out other lapses. For example, a bidder had to give a self-declaration that it had no cases pending nor was blacklisted over coal supplies. Surprisingly, the sources said this firm was facing as many as 13 suits. Besides, the tender norms also bar proxy bidding, or bidding by companies that have relationship with another bidder. Among the bidders is a joint venture of another competitor.
Source: Times of India (http://timesofindia.indiatimes.com/India/Rs-6000cr-MMTC-coal-import-plan-under-cloud/articleshow/4693998.cms)
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Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
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