CIL and SCI Signed MoU

Mar 16, 2011, 15:18 IST

Coal India Limited (CIL) and Shipping Corporation of India (SCI) signed an MoU for a 50:50 joint venture.

Coal India Limited (CIL) and Shipping Corporation of India (SCI) signed an MoU for a 50:50 joint venture on 20 December 2010. As per the understanding they would engage in importing 25 million tonne of coal a year to meet the growing demand of imported coal in India. CIL had earlier floated tender for long term coal import contracts for 10 years and received 30 proposals for the same. Three companies have been shortlisted and the deal is expected to be finalised by March 2011 for 250 million tonne for 10 years.

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