Coal news and updates

Coal India signs fuel supply pacts with 156 power units

State-owned Coal India Ltd (CIL) has entered into pacts for supply of the fuel with around 156 power units.
 
"Around 156 fuel supply pacts have been signed and the remaining are likely to be signed in due course," said an official.
 
According to the new Fuel Supply Agreements (FSAs), Coal India will supply 65% of the contracted amount for fuel from domestic sources and another 15% will be done through imports with pass-on pricing model.
 
Under pass-on, CIL will charge buyers for imported coal at landed cost plus a service charge and there will be no subsidy in pricing.
 
Coal Minister Sriprakash Jaiswal had earlier said that 85% of Fuel Supply Agreements (FSAs) have been signed and the remaining would be done once the technical glitches are addressed.
 
He had, however, refused to comment on whether the government has set a fresh deadline for signing of the pacts.
 
The Cabinet Committee on Investment (CCI) had earlier said that timelines for signing 173 FSAs for power projects with a total capacity of 78,000 MW should be met.
 
Two deadlines set recently for the signing of the FSAs by CIL with power producers could not be adhered to.
 
CCI had even directed the Power Minister to review the progress of the power projects on a daily basis with the secretaries of both Power and Coal Ministries.
 
The Coal Ministry had earlier set the deadline of August 31 for signing of the FSAs which could not be met. The second deadline of September 6 was also missed.
 
Source: Business Standard