The Government today directed Coal India[stockquote]COALINDIA[/stockquote] to sign 20-year fuel supply agreements (FSAs) with power producers within a week. A ‘Presidential directive’ was issued to CIL asking it to sign FSAs for committed supplies. However, the Government has given CIL the flexibility to decide on the quantum of penalty if it falls short of meeting the commitments to supply 80 per cent of the assured quantity.
The PMO had on February 15 told the company to sign FSAs with power plants that had tied up long-term purchase agreements with distribution companies and had been or would be commissioned by March 31, 2015
CIL shares ended marginally higher at Rs 343 on the NSE in a choppy trading session.
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