June 27, 2017 / 3:37 PM / 6 months ago

India's policy panel proposes break up of Coal India into 7 companies

NEW DELHI, June 27 (Reuters) - India should split the seven units of state-controlled Coal India Ltd into independent companies and let them compete against one another to encourage competitive pricing, the government’s policy think-tank said on Tuesday in a draft of a new energy policy.

Fresh coal production should come from private sector mines, the government think-tank NITI Aayog said, adding that the move called for reforms in allocating coal blocks to independent companies specialised in coal mining. (bit.ly/2rXZmWK)

Coal India was not available for comment after regular business hours. (Reporting by Sudarshan Varadhan, editing by David Evans)

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