Coal news and updates

ECL to come out of BIFR by 2014-15: Rao

September 18: Eastern Coalfields Ltd (ECL), a subsidiary of Coal India Ltd (CIL), is expected to come out of the purview of the Board for Industrial and Financial Reconstruction (BIFR) by 2014-15, CIL Chairman S Narsing Rao said on September 18.

"We expect ECL to come out of BIFR by 2014-15, if not by the end of the current financial year (2013-14)," the chairman said at the 39th Annual General Meeting (AGM) of the company in Kolkata.

Referring to another previously loss-making subsidiary, Bharat Coking Coal Ltd (BCCL), he said, "BCCL has come out of BIFR on March 31, 2013. However, a formal announcement from the board is still awaited this year."