Indonesian firm Bara Daya Energi outbid Adani Enterprises to emerge as the lowest bidder for Coal India’s (CIL) two medium-term tenders to import 6 million tonne of the fuel for supplies to power generators. According to tender conditions, coal is to be delivered at western and eastern coastal ports between July 2022 and June 2023.
Bara Daya Energi, which has a tie-up with Gujarat-based GHV India, quoted Rs 4,331 crore, while Adani quoted Rs 5,080 crore. Earlier, for a short-term tender by CIL to import 2.42 MT, Adani was the lowest bidder quoting Rs 4,033 crore for supplies to power plants on a freight-on-road (FOR) basis.
Adani’s bid was followed by Mohit Minerals and Chettinad Logistics, which quoted Rs 4,182 crore and Rs 4,222 crore respectively. CIL sources, however, told FE the company would inform the exchanges about the L1 bidders only after the financial bid is finally and properly evaluated.
Bara Daya had earlier faced contract termination from Gujarat State Electricity Corporation for breaching contract and failing to supply coal. In the case of CIL’s maiden tender for imports of 2.416 MT, Bara Daya was rejected in technical evaluation for submitting invalid power of attorney and for not submitting a consortium agreement. However, for the second and third tenders, it has signed a consortium agreement with GHV India.
A CIL source said as a normal practice, financial bid is only opened after the bidder has successfully met the technical bid criteria as per the tender document. “If any discrepancy is brought to the notice of CIL with sufficient evidence, then all the due diligence procedure will be followed as per CIL’s policy,” a senior company executive said.
After the financial bid is confirmed, CIL would execute contracts with the successful bidders and import coal slated to be handled in Haldia, Gangavaram, Paradeep, Visakhapatnam, Krishnapatnam, Kakinada, Dhamra, Gopalpur, Ennore, Karaikal and Attipattu ports in the eastern coast and Pipavav, Mundra, Dahej, Navlakhi, Mormugao, Dharamtar and New Mangalore ports on the western coast.