Coal India raises price by 11 percent

October 15th, 2009 - 9:27 pm ICT by IANS  

Kolkata, Oct 15 (IANS) State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective from Oct 16, the company said here Thursday.
“Such increase is being effected after a gap of almost two years. The last price revision took place on December 13, 2007,” Coal India said in a statement.

The basic price of ROM (run-of-mine) coal for Eastern Coalfields and Bharat Coking Coal has increased by 15 percent whereas the coal produced by all other subsidiary companies will be dearer by 10 percent, it said.

The other subsidiaries of CIL are Mahanadi Coalfields, Western Coalfields, South Eastern Coalfields, Northern Coalfields, Central Coalfields and North Eastern Coalfields.

“Further, Eastern Coalfields is authorised to set a special price for its high quality A and B grades of Raniganj coal, available in limited quantity, at a level commensurate with price of imported coal,” the company added.

Coal India said there had been “substantial increase” in the cost of inputs since last price revision.

“After the deregulation of coal price, during the last nine years the coal price in fact has effectively declined by 1.1 percent per annum, in real terms, after absorbing for inflation.”

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