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Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY


According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. The total import (for power sector) is expected to touch 8 mt in 2010-11.

It may be mentioned that the New Coal Distribution Policy requires Coal India to import coal to bridge the demand-supply gap of thermal coal in the country beginning 2008-09.

However, in the absence of adequate infrastructure and expertise in international trade, CIL had nominated MMTC Ltd for importing on its behalf.

May replace MMTC

But this is just the beginning. If everything goes according to plan, CIL may replace MMTC as India's largest coal importer in the next couple of years. The initiative will receive a shot-in-the-arm if CIL's recent efforts to strike “strategic alliances” with major producers across the world becomes a reality.

MMTC and three other central PSUs – State Trading Corporation, PEC Ltd, MSTC – currently buy much of the approximately 60 million tonnes imported coal requirement of the country. Of the total imports, approximately 30 per cent is coking coal used in the steel industry. To read more  The Hindu



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Recent News

Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link A 130-kilometre railway that will ease the transport of raw materials and finish ...


Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...


Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...


Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...


Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...


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