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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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Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
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- McConnell Dowell - Australia
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- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
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- IEA Clean Coal Centre - UK
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- European Bulk Services B.V. - Netherlands
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- The Treasury - Australian Government
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- Mercator Lines Limited - India
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- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
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- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Thiess Contractors Indonesia
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- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
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- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
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- Wood Mackenzie - Singapore
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- Attock Cement Pakistan Limited
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- Marubeni Corporation - India
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- Cement Manufacturers Association - India
- Indian Energy Exchange, India
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- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
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- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
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- Manunggal Multi Energi - Indonesia
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- Australian Commodity Traders Exchange
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- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
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