Coal news and updates

Rajan Raheja Group-promoted Prism Cement today said it has secured supply of 18,300 tonnes per annum of coal from state-owned CIL arm Southern Eastern Coalfields Ltd. "The company has successfully bid for 18,300 tonnes per annum of coal from Southern Eastern Coalfields Ltd in recently held auction of coal linkages for the cement industry," the company informed BSE. It further said, "The company has secured part fuel requirement for the next five years." Southern Eastern Coalfields Ltd is subsidiary of the Coal India Ltd (CIL). According to the company, this allocation has been done on a "normal premium over the floor price" by CIL. "This along with the earlier coal linkage of 120,000 tonnes per annum, constitutes about 25 per cent of the company's annual fuel requirement," it added. However, the company said it is yet to receive the allotment letter.

 

Source:moneycontrol.com