Coal India raises prices of non-coking coal by 8%
Kolkata: Coal India Ltd (CIL) has raised the prices of non-coking coal by 8 percent, the state-run miner said in a regulatory filing.
The new prices will be implemented starting from Wednesday.
"The Board has approved a price increase of 8 percent 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.
As per the company's statement, the board of directors has approved the price revision for non-coking coal, which will be effective from 00:00 hours on May 31, 2023.
The revision is expected to generate additional revenue of Rs 2,703 crore for the remaining duration of the financial year 2023-24.
Thermal coal, a type of non-coking coal, is mainly used by power plants for electricity generation. Any increase in its prices directly affects the cost of power generation.
Coal India, under the Ministry of Coal, is the largest coal producer in India.
According to official data, in April 2022, the total coal production in the country was 67.20 million tonnes (MT), out of which Coal India and its subsidiaries accounted for 57.57 MT of coal production.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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