India: Prism Cement secures fuel supplies

After a successful bid, Prism Cement Ltd is set to receive 120,000tpa of coal from South Eastern Coalfields (SEC), a subsidiary of Coal India Ltd (CIL).

In a filing to the BSE on 29 June 2016, Prism Cement said, “The company has successfully bid for 120,000 tonnes per annum of coal from South Eastern Coalfields Limited (a subsidiary of Coal India Limited) in a recently held auction of coal linkages for the cement industry… The company has secured part fuel requirement for the next 5 years. This allocation by Coal India has been made at floor price.”

Meanwhile, the company’s stock was up 17 per cent at INR115 on the BSE, as reported by the Business Standard.