New price regime unlikely to hike coal prices - Exec
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Last Updated: Tue, Jan 31, 2012 12:39 hrs
A revision of a new price mechanism will nullify a projected 12.5 percent rise in coal prices, Coal India Chairman N.C. Jha said on Tuesday, allaying fears of input cost rise for user industries such as power, cement and steel makers.
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The state-run miner's new pricing mechanism will be reviewed after Jan-Mar quarterly results, India's coal minister Sriprakash Jaiswal said.
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Any new mechanism after March would be revenue-neutral for Coal India, which aims to produce 464 million tonnes of coal in 2012/13.
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