Coal India extends thermal coal credit payment over cash to boost domestic market

摘要

Singapore—India’s state-owned mining behemoth Coal India Limited (CIL) said Thursday that it will extend credit payment over cash to domestic thermal coal buyers in a bid to inject liquidity for fresh procurement amid the extension of the nation-wide lockdown to May. In order to provide relief to consumers in the power and non-power sectors and an increase of liquidity in the system, CIL has extended the Usance Letter of Credit facility for payment of coal instead of cash advance for the Fuel Supply Agreements, according to a statement issued by the Indian Ministry of Coal later last week.