APGenco denies irregularities

AP Genco imported 1.6 million tonne coal during the last financial year at a negotiated price of Rs 5,532 per tonne through a couple of public sector entities as compared with Rs 7,300 per tonne paid by for the imported coal, according to K Vijayanand, managing director of the state-owned power generation company.

The Opposition yesterday alleged that the chief minister had received some Rs 340 crore as kickbacks in coal imports made for APGenco. Though the government is yet to react to this allegation, the state power utility in a hurriedly held press conference on Wednesday shared these details along with its annual financial performance.

“We followed transparent procedures, right from inviting seven public sector entities that deal with coal and selected the L1, who quoted the price of Rs 5,640 per tonne. Then the committee headed by the joint managing director negotiated with the firm to bring the price further down to Rs 5,532, which includes the cost of delivery of coal at the doorsteps of power stations,” he told the reporters.

However, Vijayanand added that the company also roped in the second lowest bidder, who had agreed to supply the imported coal at the same price.

He said the coal imports, which involved over Rs 1,000 crore, had been done at the lowest possible rates and these rates are the lowest compared with the imported coal prices of any other state power utility in the country, including NTPC. According to him, paid over Rs 7,000 per tonne for imported coal while Tamil Nadu and Karnataka imported the same at Rs 6,150 and Rs 5,831 per tonne respectively.

The energy ministry has been allowing APGenco to import 1.6 million tonne a year for the past couple of years owing to supply shortage. The company is facing a shortage of 4 million tonnes for the existing needs that translates into 27-28 million tonnes per annum, Vijayanand said.

Coal India Limited (CIL) has been supplying only 6 million tonnes to APGenco as against the linkage of 12 million tonnes while Singareni Collieries Company Limited supplied about 18 million tonnes as against the firm allocation of 12 million tonnes during 2011-12.

APGenco will be a beneficiary of the recent directive issued to Coal India on signing and honouring the coal linkage commitments with power developers in the country, Vijayanad said.

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APGenco denies irregularities

BS Reporter  |  Chennai/ Hyderabad 



AP Genco imported 1.6 million tonne coal during the last financial year at a negotiated price of Rs 5,532 per tonne through a couple of public sector entities as compared with Rs 7,300 per tonne paid by for the imported coal, according to K Vijayanand, managing director of the state-owned power generation company.

The Opposition yesterday alleged that the chief minister had received some Rs 340 crore as kickbacks in coal imports made for APGenco. Though the government is yet to react to this allegation, the state power utility in a hurriedly held press conference on Wednesday shared these details along with its annual financial performance.

“We followed transparent procedures, right from inviting seven public sector entities that deal with coal and selected the L1, who quoted the price of Rs 5,640 per tonne. Then the committee headed by the joint managing director negotiated with the firm to bring the price further down to Rs 5,532, which includes the cost of delivery of coal at the doorsteps of power stations,” he told the reporters.

However, Vijayanand added that the company also roped in the second lowest bidder, who had agreed to supply the imported coal at the same price.

He said the coal imports, which involved over Rs 1,000 crore, had been done at the lowest possible rates and these rates are the lowest compared with the imported coal prices of any other state power utility in the country, including NTPC. According to him, paid over Rs 7,000 per tonne for imported coal while Tamil Nadu and Karnataka imported the same at Rs 6,150 and Rs 5,831 per tonne respectively.

The energy ministry has been allowing APGenco to import 1.6 million tonne a year for the past couple of years owing to supply shortage. The company is facing a shortage of 4 million tonnes for the existing needs that translates into 27-28 million tonnes per annum, Vijayanand said.

Coal India Limited (CIL) has been supplying only 6 million tonnes to APGenco as against the linkage of 12 million tonnes while Singareni Collieries Company Limited supplied about 18 million tonnes as against the firm allocation of 12 million tonnes during 2011-12.

APGenco will be a beneficiary of the recent directive issued to Coal India on signing and honouring the coal linkage commitments with power developers in the country, Vijayanad said.

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APGenco denies irregularities

AP Genco imported 1.6 million tonne coal during the last financial year at a negotiated price of Rs 5,532 per tonne through a couple of public sector entities as compared with Rs 7,300 per tonne paid by NTPC for the imported coal, according to K Vijayanand, managing director of the state-owned power generation company.

AP Genco imported 1.6 million tonne coal during the last financial year at a negotiated price of Rs 5,532 per tonne through a couple of public sector entities as compared with Rs 7,300 per tonne paid by for the imported coal, according to K Vijayanand, managing director of the state-owned power generation company.

The Opposition yesterday alleged that the chief minister had received some Rs 340 crore as kickbacks in coal imports made for APGenco. Though the government is yet to react to this allegation, the state power utility in a hurriedly held press conference on Wednesday shared these details along with its annual financial performance.

“We followed transparent procedures, right from inviting seven public sector entities that deal with coal and selected the L1, who quoted the price of Rs 5,640 per tonne. Then the committee headed by the joint managing director negotiated with the firm to bring the price further down to Rs 5,532, which includes the cost of delivery of coal at the doorsteps of power stations,” he told the reporters.

However, Vijayanand added that the company also roped in the second lowest bidder, who had agreed to supply the imported coal at the same price.

He said the coal imports, which involved over Rs 1,000 crore, had been done at the lowest possible rates and these rates are the lowest compared with the imported coal prices of any other state power utility in the country, including NTPC. According to him, paid over Rs 7,000 per tonne for imported coal while Tamil Nadu and Karnataka imported the same at Rs 6,150 and Rs 5,831 per tonne respectively.

The energy ministry has been allowing APGenco to import 1.6 million tonne a year for the past couple of years owing to supply shortage. The company is facing a shortage of 4 million tonnes for the existing needs that translates into 27-28 million tonnes per annum, Vijayanand said.

Coal India Limited (CIL) has been supplying only 6 million tonnes to APGenco as against the linkage of 12 million tonnes while Singareni Collieries Company Limited supplied about 18 million tonnes as against the firm allocation of 12 million tonnes during 2011-12.

APGenco will be a beneficiary of the recent directive issued to Coal India on signing and honouring the coal linkage commitments with power developers in the country, Vijayanad said.

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