Coal India Ltd.

Coal India’s (CIL) subsidiary - Central Coalfields has received an approval for revision of coking coal prices with effect from January 14, 2017. The board of directors of Central Coalfields has approved revision of coking coal prices. The increase in price is done by subsuming the Washery Recovery Charge (WRC) which was being charged separately in the case of non-linked Washery grade coking coal keeping in view the observation of ADRM.

Due to this revision, CIL will earn approximately additional revenue of Rs 89.98 crore for the balance period of financial year 2016-17 i.e. from January 13, 2017 to March 31, 2017 and additional revenue of Rs 222 crore for financial year 2017-18 subject to achievement of production and dispatch target norms.

Coal India accounts for over 80% of the domestic coal production and is eyeing 1 billion tonne production by 2020. The PSU is eyeing 598 million tonnes in 2016-17.