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
Latest posts by admin (see all)
- Tough Times Beckon For Coastal Power Plants On Imported Coal – August 8, 2017
- MMRC Asked To Integrate Metro With Suburban Rly – August 4, 2017
- Boost To Paris Pact: India Sees Dip In Coal Use Rate – August 3, 2017