Business

Gautam Adani may get a big contract for coal import

Industrialist Gautam Adani, who is in the race to reach the top of the list of the world’s rich, is having a good day. His various companies are setting profit records. It can be estimated from the performance of various companies of the Adani Group listed on the stock exchanges. Now another good news is coming for the investors of Adani Group.

Yes, Gautam Adani’s flagship company Adani Enterprises is going to get a big contract to import coal. The contract pertains to import of coal from abroad for Coal India Limited (CIL), whose tender has been floated by power generating companies and Adani Enterprises has bid the lowest rate for the work.

According to a report in Business Standard, 11 importers and some foreign traders had shown interest for the tender floated. In this, Adani Enterprises has bid for 2.4 million tonnes of coal on Frene-on-Road basis for Rs 4033 crore, which is the lowest among other bidders. The other bidders are Mohit Minerals 4182 crore, Chettinad Logistics 4222 crore. These bids were opened on Friday. After this news, the shares of Adani Enterprise also saw a rise of about 2 percent on Friday.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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