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Coal India likely to import in the current fiscal

17 Jan 2013 Evaluate

With a view to fulfill its obligations under the fuel supply agreements (FSA), Coal India (CIL) may finally start importing in the current fiscal. The company has received requisition for import of five- six million tonnes (mt) for some of the customers.

The government last year issued a Presidential directive to the CIL to ink fuel supply agreements (FSAs) with the power producers assuring them of at least 80 per cent of the committed coal delivery. The company, to meet the commitment in case of shortfall in production, is likely to resort to imports. Imports are likely to be effected through third parties such as MMTC and State Trading Corporation of India (STC).

CIL has so far signed 48 FSAs. However, world’s largest coal miner is planning to supply coal to power companies till the month-end under the MoU even as firms like NTPC are yet to ink Fuel Supply Agreement’s (FSA). As the earlier deadline expired on December 31, 2012 Coal firm has decided to extend the deadline by another one month till January 31 for supply of coal to power firms

Coal India Share Price

438.70 5.80 (1.34%)
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Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
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