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Wednesday, 18 March 09
MANILA'S NAPOCOR SAYS BIDDING FOR 100,000T COAL FAILS - REUTERS


Top Philippine electricityproducer National Power Corp (Napocor) was unable to secure 100,000 tonnes of local coal for one of its power plantsfollowing another failed tender on Wednesday, officials said.

The lone bidder, state-run firm PNOC-Exploration Corp(PNOC-EC) (PEC.PS), fell short of the required bid bond of 42.284 million pesos ($872,555), said Edmund Anguluan, chairman of the bidding committee. "We terminated the bidding because of a technical error," he said. Anguluan said the company is planning to hold another tender but added that PNOC-EC has the option to have its offer reconsidered. Napocor had set a budget of 3,537 pesos per tonne, including cost and freight, for the locally-sourced coal. Last month, the power firm awarded 780,000 tonnes in coal contracts to several Indonesian suppliers for shipment this year. To read more Click
Reuters



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Recent News

Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and  othe ...


Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...


Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...


Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...


Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...


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