State Trading Corp. of India Ltd. may award the first phase of a tender by March to import coal on behalf of NTPC Ltd., Asia’s second-largest power producer by market value, two traders said.
State Trading may announce the award of the 6-million metric tons a year import contract for supplies in the year ending March 2012, and open the technical bids this month, said two traders, declining to be named citing confidentiality.
B. Dutta Majumdar, chief general manager for State Trading, didn’t answer phone calls to his office seeking comment.
NTPC awarded a contract to State Trading to import 12 million tons of thermal coal on its behalf by the end of March 2013, said a company official in September, who declined to be identified, citing company rules. State Trading will import the fuel, equivalent to about 27 percent of India’s thermal coal purchases last year, in two installments for the years ending March 2012 and 2013, the official said.
India’s thermal coal imports rose to 44 million tons for the year ending March 2010 from 38 million a year earlier, according to data from India’s coal ministry.