All major central trade unions, except the Bharatiya Janata Party-backed Bharatiya Mazdoor Sangh (BMS), have decided to go on strike on March 29, which would hit Coal India’s production by at least five million tonnes (mt).
Coal India is making its biggest tech overhaul in four decades to check rampant theft and shed its image as an inefficient behemoth, spurred by an impending opening up of the sector to private firms for the first time since the 1970s.
India's coal imports fell for the sixth month in December, a government official said Wednesday, as the world's third-biggest buyer of the fuel expands domestic mines to boost output and expand power generation.
After auctions to the tune of over Rs 3 lakh crore, coal sector is looking for key reforms in the new year in areas like quality checks as also the steps for augmenting output and rationalising the prices.
Opposing an immediate stake sale in Coal India Ltd, foreign investors have told the Finance Ministry that further disinvestment in the coal miner should be put off as the current market valuation is low.
As Coal India battles to meet the ambitious target of one-billion tonne of coal output by 2020, completion of three railway lines will come in handy, as it aims to boost evacuation capacity by 280 million tonnes.
After missing its production target for the past seven months, Coal India might eventually end the financial year with a shortfall of 10 million tonnes (mt), or nearly two per cent, of its marked output.The company had targeted about 550 mt.
State-owned Coal India Ltd has estimated a capital investment of Rs 57,000 crore over the next five years to increase the production to 908.1 MT, as part of the road-map for one billion tonne coal production by 2020, Parliament was informed today.
"By the end of this month, Western Coalfields Ltd's (WCL) Amalgamated Pauni-II & III OC (Open Cast) coal mining project in Maharashtra will be commissioned", WCL's Director (Technical) Binoy Kr Mishra told PTI.
More than a year after it sacked three UPA-appointed independent directors on ONGC board, the government has appointed ex-IFS Ajai Malhotra and two others as non-oficial part-time directors on the board of the nation's biggest oil and gas producer.
Coal India gains the spotlight with the government’s decision to sell 10% stake in the company. However, the street has been anticipating the same and the stock has underperformed the broader indices substantially.
The government on Wednesday announced a clutch of measures – including a stake sale on Coal India, revival of stalled projects, and interest relief for exporters, among others – aimed largely at propping up sagging revenues in the face of a