Friday 22 March 2019

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Economy | Industry

Handicraft Corp to buy CIL coal

 

State-run Goa Handicraft and Rural Small Scale Industries Development Corporation (GHRSSIDC)has signed an MoU with Coal India to buy coal from its subsidiary South Eastern Coal Field Ltd in Chhattisgarh.

Coal is the primary fuel for ferro alloy and sponge iron industries.

"Goa will lift 35,000 tonnes of coal annually as a part of MoU which would be supplied to 7-8 units which are dependent on it," GHRSSIDC Deputy Manager S N Parsekar told reporters here today.

The state has an allocation of one lakh tonnes per annum, but due to less response from the buyers the state has decided to fix the purchases at only 35,000 tonnes, he said.

 

The corporation will earn five per cent commission from the total value of the raw material purchased.

The coal would be transported to Goa by road.

As per the rules, the corporation can supply only to those industries which have an annual requirement of only 4,200 tonnes and below, Parsekar said.






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