Coal India intends to establish eight new coking coal washeries with an overall investment of ₹3,300 crore. According to an exchange filing, these washeries, projected to commence operations by FY2030, will increase the total washing capacity by 21.5 million tonnes annually (MT/Y), enhancing Coal India’s processing capabilities.
This expansion enhances the company’s current infrastructure, which consists of ten operational washeries with a total capacity of 18.35 MT/Y. Furthermore, CIL has allocated ₹300 crore for the refurbishment and modernization of its existing washeries to boost efficiency, throughput, and utilization.
Of the eight new facilities, five will be constructed under Central Coalfields, with a capacity of 14.5 MT/Y, while the other three will be established under Bharat Coking Coal Limited, with a capacity of 7 MT/Y.
In alignment with its overall strategy, Coal India is concentrating on the monetization of its assets. Following the successful monetization of one washery under Bharat Coking Coal Limited, the company aims to monetize three older, non-operational washeries in accordance with the National Monetization Policy. At the same time, it is modernizing two outdated washeries to improve recovery rates and operational dependability.
Coal India as per the exchange filing is also utilizing public-private partnerships to enhance outcomes, partnering with Tata Steel Limited to implement advanced washing technologies and improve the quality of coking coal supplied to the domestic steel industry, as stated in the exchange filing.
Coking coal is an essential raw material for producing steel. Nonetheless, India’s local reserves are constrained and generally possess a high ash content varying from 25% to 45%, necessitating imports. With these initiatives, Coal India seeks to enhance coal quality, diminish reliance on imports, reduce foreign exchange expenditures, and bolster the competitiveness of India’s steel industry.
Coal India share price today
Coal India share price today opened at ₹444.05 apiece on the BSE, the stock touched an intraday high of ₹448.40 per share, and an intraday low of ₹441.10 per share.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the coal index has corrected by around 5% this week, snapping its five-week winning streak. He noted that prices have slipped below the 20-day EMA, indicating the possibility of further near-term profit booking towards the 425 level. However, the broader trend remains positive, and the current dip may be viewed as a buying opportunity. On the upside, the 460–465 zone is expected to act as immediate resistance.
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