Prakash Industries to Sign Fuel Supply Agreement in Few Weeks
Shital Jibhe / 12 Jun 2017
In a recent coal linkage auction conducted by the Coal India Limited (CIL), Prakash Industries has secured additional coal linkages of a total quantity of 5.43 lakh tonnes per annum for the next five years, for captive power plant sector.
In a recent coal linkage auction conducted by the Coal India Limited (CIL), Prakash Industries has secured additional coal linkages of a total quantity of 5.43 lakh tonnes per annum for the next five years, for captive power plant sector.
The company is going to sign the Fuel Supply Agreement (FSA) in the coming weeks and expects the supplies to commence from next month onwards.
Till date, the company was meeting coal requirements from CIL through spot auctions which were expensive by 20% when compared to linkages. Savings are expected to the tune of over Rs 70 crore per annum approximately as the total quantity of coal secured through linkages amounts to 13 lac tonnes per annum.
Prakash Industries stock is trading higher by 0.6% at Rs 91.35 per share as of 1245 hours, on Monday. It has touched its intraday high of Rs 93.3 per share.
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