New Delhi American firms woo Indian buyers with long-term contracts, discounts

The US is emerging as a new source of coal supply for India as traditional exporters like Indonesia and Australia jack up their coal prices. American firms are trying to woo Indian buyers with offers of long-term contracts and discounts on international prices. In what marks a new trend in international coal trade, US-based FJS Energy has signed a $7 billion deal to supply 9 million tonnes a year coal to India’s Abhijeet Group for 25 years.