PwC to help CIL develop pact for supply of imported coal
PricewaterhouseCoopers (PwC) will assist Coal India Ltd (CIL) to develop a pact for supply of imported coal for power generating firms entering into fuel supply agreement with the state-owned firm, a CIL source said.
The appointment of the consultant comes at time when independent directors of CIL and some state governments, including West Bengal, have shown strong opposition to the idea of price pooling of imported and domestic coal. ''PwC has been appointed for providing consultancy services to help the CIL to develop a pact for supplying coal to power companies under fuel supply agreement (FSA),'' the source said.
CIL had earlier said that with the finalisation of the FSA model and side agreement, the company now looks forward to an advisory service to develop a legally-commercially enforceable agreement between all the concerned parties, including the power plants, CIL and the importing agency.
''Further, CIL also intends the advisory service provider to develop a suitable notice inviting tender (NIT) in line with the similar arrangements prevalent between the PSU/state, power utilities/industrial units and PSU/government trading agencies like MMTC...supply of imported coal on end to end package service basis,'' CIL's tender document said.