Business Standard

CIL hikes non-coking coal prices by 8%; expects Rs 2,703 crore revenue

Thermal coal is a non-coking coal used by power plants to generate electricity. A rise in its prices impacts the power generation cost

Coal India likely to auction 30 million tonnes of coal in Jan-Mar quarter

Press Trust of India New Delhi

Listen to This Article

Coal India Ltd (CIL) on Tuesday said it has increased prices of non-coking coal by 8 per cent.
The prices will come into effect from Wednesday, the miner said in a regulatory filing.
"The Board has approved a price increase of 8 per cent over the existing notified prices for high-grade coal of grade G2 to G10. This will be applicable to all subsidiaries, including NEC, for regulated and non-regulated sectors," CIL said.
The board of directors of the company approved the revision in the prices of non-coking coal with effect from 00:00 hours of May 31, 2023, it said.
Following this revision, CIL is expecting to earn incremental revenue of Rs 2,703 crore for the balance period of the financial year 2023-24.
Thermal coal is a non-coking coal used by power plants to generate electricity. A rise in its prices impacts the power generation cost.
Coal India, under the Ministry of Coal, is the largest coal producer in India.
As per official data, in April 2022, the country's overall coal production was 67.20 MT, of which Coal India along with its subsidiaries produced 57.57 MT of coal.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 30 2023 | 8:32 PM IST

Explore News