Shareholders nod will be sought in annual general meeting of the coal behemoth scheduled for September 23 in Kolkata, the company said in a filing to the BSE.
Amid continuous delays, the Cabinet Committee on Investment (CCI) had earlier said that timelines for signing of fuel supply pacts for power projects of 78,000 MW capacity should be met.
Amid continuous delays, the Cabinet Committee on Investment (CCI) had earlier said that timelines for signing of fuel supply pacts for power projects of 78,000 MW capacity should be met.
Coal India had decided to prepay Rs 300-400 crore outstanding Japanese loan as the rupee crashes to above Rs 60 against US dollar.
The need for less imported coal comes as as positive news as the company had earlier guided that they would need about 35 million tonne of coal for FY14.
Narsing Rao, chairman of Coal India said, in an interview with CNBC-TV18 that meeting the offtake targets for the year would be a bigger challenge than achieving production goals
The Coal India board met today in Delhi to discuss issues related to the fuel supply agreements. The board has agreed on the penalty to be levied if there's a shortfall and in principle has agreed to pooling of prices as well, reports CNBC-TV18‘s Anshu Sharma.
The government today said the coal sector holds huge promise for the investors as the demand for the fossil fuel is growing consistently.
Narsing Rao, chairman and managing director, Coal India, has confirmed that 15 FSAs have been signed with the power companies but even in the best possible scenario, Coal India will not be able to supply above 65% for the new FSA requirement.
Coal India, CMD, S Narsing Rao spoke to CNBC-TV18 after announcement of results and said that he is confident the PSU will meat its production target for the year.