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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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- The Treasury - Australian Government
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- Mercator Lines Limited - India
- Commonwealth Bank - Australia
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- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
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- Pipit Mutiara Jaya. PT, Indonesia
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- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
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- Straits Asia Resources Limited - Singapore
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- Renaissance Capital - South Africa
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- Globalindo Alam Lestari - Indonesia
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- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
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- Sarangani Energy Corporation, Philippines
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- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
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- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
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- Merrill Lynch Commodities Europe
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- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Australian Coal Association
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
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- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
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- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
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- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
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- Power Finance Corporation Ltd., India
- PTC India Limited - India
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- Xindia Steels Limited - India
- SMC Global Power, Philippines
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- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
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- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
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- Minerals Council of Australia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
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