Sail to pay $150 per tonne for BCCL coal

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Steel Authority of India (Sail) has agreed to pay the revised coal price of $150 per tonne, to Bharat Coking Coal, in 2008-09, as compared to the previous fiscal, when it paid $105 per tonne. “The price issue is settled. We will sell coking coal from BCCL at $150 per tonne, 40% lower than the price we were supposed to sell at, as per the guidelines laid down,” Coal India (CIL) chairman Partha Bhattacharyya said here on Saturday. Bharat Coking Coal is a 100% subsidiary of CIL. “We were supposed to sell at $250 per tonne against the ruling international price of $300 per tonne. But, Sail has been offered a special discount as they have paid a higher price of $105 per tonne in 2007-08, against $97-98 per tonne, the price that they were supposed to pay,” Bhattacharyya said on the sidelines of annual conference of National institute of Personnel Management.