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Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS


Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise in domestic demand, stoked by power firms, a senior company official said on Thursday.

India has 10 percent of the world's coal reserves, the biggest after the United States, Russia and China, but its coal imports have grown rapidly from almost nothing five years back as power utilities ramp up capacity.

The share of coal-fired plants in India's total installed power generation capacity will rise to 57 percent by March 2012 from the current 53.3 percent or 80,283.88 megawatts, a recent report by PricewaterhouseCoopers has said.

Coal India plans to import 4 million tonnes of the fuel this year, Marketing Director A. Sarkar told reporters.

He said India's port, road and rail infrastructure needed to be boosted as the country's current capacity could not handle the rising import volumes.

Sarkar said Coal India was considering buying overseas projects to secure 12 million tonnes of coal by 2012.

He said delay in obtaining necessary clearances for mining was a major hurdle in achieving its production target.

He said the company might miss its production target of 520 million tonnes by 2012.

The target might fall short by 33-34 million tonnes due to procedural delay in getting environment and other clearances.

The company aims to produce 435 million tonnes of coal by March 2010.
Source:Reuters



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Recent News

Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...


Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...


Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...


Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...


Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...


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