The State-owned Coal India Ltd (CIL) today said there would be no negotiations with regard to supply of 15 per cent of imported coal on cost-plus basis as part of fuel supply agreement (FSA).

Responding to queries whether there will be no negotiations on imported coal price, Chairman and Managing Director (CMD), S Narsing Rao said: “Absolutely... it is a deemed delivery, then my commitment remains up to 65 per cent.”

He was talking to reporters after coming out of a meeting chaired by Coal Secretary S K Srivastava.

On September 18, the CIL board had approved the modified FSA without price-pooling with 65 per cent domestic coal and 15 per cent imported coal at cost plus basis.

The meeting on fuel supply agreement also had officials from Power Ministry like Joint Secretary (Thermal) I C P Kesari among others.

When asked whether penalty and imported coal was also discussed during the meeting, he said: “That has already been sealed. It is already in draft FSA...now 65 per cent domestic coal and 15 per cent imported coal on cost plus.”

However, the CMD refused to speak on price pooling. “I am not going to talk anything about price pooling...Now, we are waiting for the consent of the consumers. One or two of the consumers I think have said ‘no’.”

When asked whether the PSU firm has set any deadline for signing of FSAs, he said: “We have not put the deadline yet, but one thing we can say is that till December 31 these MoUs are valid. Any thing has to be done before December 31 otherwise they (power companies) will not get coal.”

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