Adani Enterprises wins major coal import contract with NTPC
Adani Enterprises Ltd has bagged a big contract with state-run power manufacturer NTPC to supply overseas coal as India plans to avoid a repeat of coal shortage that occurred last year due to flooding of coal mines and soaring demand, media reports said.
Adani will supply 1 million tons of thermal coal to NTPC while Kolkata-based Damodar Valley Corporation (DVC) is also considering a deal with Adani to import the same volume for its power plants, Bloomberg reported citing sources, who requested anonymity
State-run coal miners are under pressure to bolster stockpiles after coal shortages in the second half of 2021 led to outages in some parts of the country and curbs in energy-intensive industries.
Coal is used to generate 70 percent of India's electricity generation and coal demand is likely to increase in the next few years to meet the rising consumption levels.
Adani started shipping coal from its controversial Carmichael coal mine in Australia and the shipment is already headed to India.