Targeting Rs 8,500 crore of capex & total dispatches of 600 mt in FY18: Coal India

Reports have been indicating that a coal price hike is around the corner and Coal India is looking at the potential of hiking prices.

In an interview with CNBC-TV18, Gopal Singh, CMD of the company spoke about the latest happenings in his company and sector.

We are a listed company, so I cannot comment on coal price hike right now, he said.

Will surely take care of shareholder interest going forward, he added.

Disruptions in pet coke supply gave company a new market, said Singh.

Regarding electronic auction (e-auction) prices and demand, he said that it is a good news for Coal India that demand is still persisting and auction prices are going up.

e-auctions have gone up substantially, Singh mentioned.

The company sold around 113 million tonne (mt) coal under e-auctions in FY17. We are targeting to dispatch more than 600 mt in FY18, he said.

He expects e-auction volumes to be higher in FY18 versus FY17.

According to him, quality of coal has improved which is aiding realisations.

We are targeting Rs 8,500 crore of capex in this year, he added.

For full interview, watch accompanying video...