Prakash Industries bags additional coal linkage for 5 years

Our Bureau New Delhi | Updated on January 08, 2018

Prakash Industries has bagged an additional coal linkage from Coal India Limited to meet the increased requirements with the commissioning of the fifth sponge iron kiln in April this year.

In a statement to the exchanges, the company said, “In the recent coal linkage auction conducted by Coal India for sponge iron sector, the company has secured additional coal linkages of 2.10 lakh tonnes per annum for the next 5 years.”

The company will sign the fuel supply agreement in the coming weeks and supplies will commence from November. The company will save over 20 per cent in coal costs through this agreement, the statement added.

The company said that its profitability will improve by over Rs 20 crore, taking the total annual cost savings on total linkage quantity of Rs 15.56 lakh tonnes per annum to over Rs 90 crore.

Published on October 12, 2017

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