In a first, Coal India turns buyer and signs pact with Odisha firm

OCPL can sell 6,000 tonnes of coal per day to Coal India at notified prices

In a first of its kind initiative, Coal India (CIL) has joined hands with a state government-owned coal company, Odisha Coal and Power (OCPL), to buy the coal produced from captive mining block in Manoharpur of Odisha. 

According to the agreement, OCPL can sell 6,000 tonnes of coal per day to CIL at notified prices meant for the power sector. CIL is at liberty to sell the coal either to power plants or to the non-power sector. In case it opts for the latter, CIL stands to gain 20 per cent over the cost of procurement from OCPL.

CIL has