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Coal India inks MOU with Central Trade Unions

21 Feb 2012 Evaluate

Coal India management and its subsidiaries have signed a memorandum of understanding (MOU) with representatives of Central Trade Unions viz. INTUC, AITUC, HMS and CITU on January 31, 2012. The MOU is part of national coal wage agreement - IX a period of five years with effect from July 01, 2011 for its 3.63 lakh strong non-executive work force.

Coal India would bear the additional financial impact of around Rs 6,500 crore per annum due to signing of NCWA-IX.

Coal India is the largest coal producing company in the world. The company also produces non-coking coal and coking coal of various grades for diverse applications.

Peers
Company Name CMP
Coal India 397.75
NMDC 66.30
Ashapura Minechem 419.95
Sandur Manganese 156.65
GMDC 424.55
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