Companies

Coal India board to meet today on new FSA

Led by Coal Minister SriPrakash Jaiswal, the Chairman of Coal India Ltd., S. Narsing Rao, and other officials of the coal ministry are set to meet overseas investors this week. The visit is scheduled soon after CIL’s board meeting here on Tuesday in which the long-pending issue of fuel supply agreement (FSA) and price-pooling are set to come up. On the FSA issue, the board will have to consider a fresh pact which, if ratified, would replace the once cleared in mid-April.

The overseas interactions are scheduled to be held in Singapore and Hong Kong with investors who had picked up a stake in the Maharatna company, following the 10 per cent divestment by the government. CIL is now billed as the world’s single largest coal miner.

Besides the minister and CIL chairman, Alok Perti, former coal secretary and now an advisor to the ministry, is scheduled to meet investors in Hong Kong and Singapore. Such meets were also held in London and New York, it was learnt, as part of an effort to keep investors interested and informed about the company.

This round gains significance from the fact that it would be the first such interaction since the present chairman assumed office in April-end.

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Printable version | Dec 6, 2020 4:47:10 AM | https://www.thehindu.com/business/companies/coal-india-board-to-meet-today-on-new-fsa/article3704287.ece

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