Coal India plans to invest Rs 3,000 crore in coal bed methane (CBM) projects and invite global bids to procure the necessary technology.
Pay scales of Coal India’s 17,000-odd executives — from junior levels right up to chairman’s post — are proposed to be more than doubled, although the increase would be smaller after accounting for the dearness allowance already being paid on top of the basic salary.
Coal India (CIL) is likely to hike the salaries of executives in the next two months, a move that will result in an additional annual outgo of Rs 1,000 crore, its chief Gopal Singh said today.
State-owned Coal India (CIL) said it is working out the modalities to raise coal sales bills on GCV(Kcal/kg) or gross calorific value basis and it will soon intimate implementation date.
Coal India Ltd has recorded the highest offtake of 2 million tonnes (MT) in a single day on March 28, with railways helping movement of highest number of 289.5 rakes from CIL’s own sidings.
State-run miner Coal India will reduce manpower and leverage technology to increase productivity, as part of a roadmap outlined to keep prices low and compete better with private players.
Coal India Ltd has budgeted for a capital expenditure of Rs9,500 crore in 2018-19 and is looking to pare operating costs even as the state-owned miner braces for competition from the private sector.
State-owned Coal India Ltd (CIL) today exuded confidence that it will remain the market leader even after the entry of private players into commercial mining of the dry fuel.
State-run Coal India (CIL) will not let coal stocks pile up at its mines next year onwards as a strategy to compete with private players once the sector is opened up for commercial mining.
Coal India has planned several meetings with its customers to address their concerns over the new pricing policy which is coming into force from the first week of April, its chairman Gopal Singh said.