Coal India to save Rs 800-1000 cr by closing 37 unviable underground mines

Coal India to save Rs 800-1000 cr by closing 37 unviable underground mines

Muted coal demand and eroding profitability have forced Coal India to ‘production closure’ of 37 loss making underground mines in the current fiscal to save between Rs 800 crore to Rs 1000 crore annually.

“An action plan was prepared by the subsidiaries in which 37 underground mines were envisaged to be closed for production in 2017-18. This exercise will save between Rs 800 crore to Rs 1000 crore,” a top CIL official told PTI. Read More…

 

 

 

Credit By: The Economic Times

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