Coal India plans steps to recover costs

	Financial Daily from THE HINDU group of publications Friday, November 30, 2001

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Coal India plans steps to recover costs

Our Bureau

NEW DELHI, Nov. 29

COAL India Ltd (CIL) is considering a package of innovative measures to finance the huge cost of production from underground mining, which has been stagnating at around 55 million tonnes annually, according to the Chairman of CIL, Mr N.K. Sharma.

He was addressing a meeting organised by Associated Chambers of Commerce and Industry of India (Assocham) and India Energy Forum (IEF) on Thursday.

Mr Sharma said that for increasing production from open cast mines, CIL was considering global bids for the development of projects, including maintenance against deferred payments on the basis of availability of equipment.

He said that joint venture partnership with reputed equipment manufacturers, coal producers or power companies would become an important source of financing of capital projects in the future.