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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, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
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- Alfred C Toepfer International GmbH - Germany
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- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
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- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
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- Ministry of Finance - Indonesia
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- Africa Commodities Group - South Africa
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- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
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- Sical Logistics Limited - India
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- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
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- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
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- Bhoruka Overseas - Indonesia
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- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
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- Romanian Commodities Exchange
- Xindia Steels Limited - India
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- Semirara Mining Corp, Philippines
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- Chamber of Mines of South Africa
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- Parliament of New Zealand
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- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
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- CIMB Investment Bank - Malaysia
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- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- White Energy Company Limited
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- Eastern Energy - Thailand
- Minerals Council of Australia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
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- Planning Commission, India
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- The University of Queensland
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- Formosa Plastics Group - Taiwan
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- Economic Council, Georgia
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- Therma Luzon, Inc, Philippines
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