Coal India (CIL), a state-run coal firm, has floated global tender inviting financial institutions to advise it on over Rs 150-crore fresh investment proposal for boosting local output. The last date for submission of expression of interest is July 7, 2011. CIL has planned to enlarge the existing low-capacity projects or open new high-capacity mines considering the increasing demand of coking and thermal coal.
The company intends to empanel financial institutions for appraisal of new investment proposals of more than Rs 150 crore for Coal India and its subsidiaries through expression of interest. The panel would review project agreements, do commercial and risk analysis, estimate financial requirements, financing plan, modeling to ascertain the viability of the project and prepare the financial appraisal report.
The bidder could be from India and abroad, which has their establishment in India. It has to complete financial appraisal of any least five projects, each with at least Rs 150 crore investments by the end of March 31. The bidders' tenure will be valid for two years. CIL and its seven subsidiaries operate about 471 mines - both opencast and underground. It had produced 431.33 MT coal last fiscal and aims 520 MT production this fiscal. The firm hopes to achieve 664 MT production by 2016-17.
The Group has posted a net profit of Rs 10867.35 crore for the year ended March 31, 2011 as compared to Rs 9622.44 crore for the year ended March 31, 2010, up 13%. Its total income has increased from Rs 49515.89 crore for the year ended March 31, 2010 to Rs 55029.88 crore for the year ended March 31, 2011.
CIL is the largest coal producing company in the world, based on the company’s raw coal production of 431.26 million tons in fiscal 2010.
| Company Name | CMP |
|---|---|
| Coal India | 386.75 |
| NMDC | 214.25 |
| GMDC | 325.75 |
| MOIL | 328.70 |
| Sandur Manganese | 406.20 |
| View more.. | |
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