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The Dollar Business Bureau Coal India Ltd has set a target to produce one billion tonnes of coal, said Union Minister of State, independent charge for Coal and Power, Piyush Goyal, on Wednesday. The target before the Ministry of Coal and CIL to attain one billion of output is very much challenging, he said. Goyal was addressing the media at the Korba district headquarters in Chhattisgarh, when he stated that the level of power shortage in the country came down to 2.1% from the previous 4.2%. He also participated in a series of programmes held in Korba as a part of Vikas Parv, which was a month-long event marked to celebrate two years of successful completion of Prime Minister Narendra Modi led government. Korba, ...

The Dollar Business Bureau State-owned Coal India Ltd (CIL) has raised its coal prices by 6.29 percent to earn additional revenue of Rs.3234 crore.  The revision in the prices was announced after the CIL board met on May 28, 2016. The new prices will come into effect on May 30 and are expected to be effective till the end of the current fiscal year. “The change will be applicable to all Coal India’s subsidiaries and North Eastern Coalfields (NEC) for regulated as well as non-regulated sectors,” the company said in a BSE filing. This move will enable the company to earn additional revenue of Rs 3,234 crore in the current financial year 2016-17. The board’s members have agreed to reduce the differential price for non-regulated ...

The Dollar Business Bureau In an effort to revive two gas-based fertilizer plants, Coal India Ltd, the giant of coal mining, and NTPC, largest power producer in India, have inked a joint venture agreement. According to the agreement inked by the two state owned firms, the works at the plants of Fertilizer Corporation of India at Jharkhand and Gorakhpur will resume soon. Earlier, the Centre tried to rope in private partners to revive the ailing fertilizer plants. However, the apathetic response compelled the government to turn back to financially stable public sector companies. The Centre sought cash-rich PSUs like Coal India, NTPC and Oil & Natural Gas Corporation to adopt one shut urea plant by each, to help in the revival process. An official from ...

PTI  State-owned CIL will this month hold the second phase of special e-auction for the current financial year for providing coal to power plants as the government's targets 24X7 power supply across the country.  "The special forward e-auction for 2016-17 for power producers-Phase II will be conducted as per the terms and conditions followed for Special Forward E auction for 2016-17 Phase I and as per the scheme of Special Forward E Auction for power producers," an official said.  The special forward e-auction for 2016-17 for power producers including captive power plants (CPP)-Phase II would be held on May 24 and May 25, the official added.  "The reserve price for power sector consumers will remain at 10 per ...

The Dollar Business Bureau Opening of two additional mines in Maharashtra will add the production capacity of the government-run miner Coal India Limited (CIL) up to 6.75 Million Tonnes (MT) and help the country in curbing its import bill. Union Power Minister Piyush Goyal on Monday inaugurated the two open cast mine projects of the Western Coalfields Limited (WCL) at Dinesh and Yekona in Umred area of Nagpur district. “The two projects would add the production capacity by 6.75 MT, of which around 5.7 MT would be provided to Mahagenco and other power houses and will lead in turn to generation of additional power of 1400 Mega Watts,” said the Minister. The inauguration of these two mines marks fulfillment of the government’s assurance ...

Sai Nikesh | The Dollar Business International coal prices have declined to a 12-year-low as a result of weak global demand and the ongoing economic slowdown. The fall in coal prices is being attributed to rise in coal exports from Australia and sharp fall in demand from major importers like the United States, India, and China. Although India is the net importer of the mineral fuel, falling global prices are likely to hit the India’s domestic coal production, say experts. In case of continuous fall, Indian coal producers, mainly the government-owned Coal India Ltd (CIL), will have to struggle hard to cut their production cost so as to remain competitive against foreign suppliers. “Fall in coal prices in the international market is ...

Source: PIB, Government of India Coal production in the country has increased from 556.4 million tonnes in 2012-13 to 610.8 million tonnes during 2014-15, Minister of State (IC) for Power, Coal & New and Renewable Energy, Piyush Goyal informed the Lok Sabha on Thursday. The details of company-wise and State-wise production of coal in the country during last three years and current year are given below:- (In Million Tonnes)   Company  State 2012-13 2013-14 2014-15 2015-16 Actual Actual  Provisional April-June 2015 (Prov)   West Bengal 17.59 18.88 20.61 4.673   Jharkhand 16.32 17.17 19.40 4.442 ECL   33.91 36.05 40.01 9.115   West Bengal 0.07 1.55 1.05 0.655   Jharkhand 31.14 31.07 33.46 8.155 BCCL   31.21 32.61 34.51 8.810   Jharkhand 48.06 50.02 55.65 12.590 CCL   48.06 50.02 55.65 12.590   Uttar Pradesh 16.09 14.72 14.96 3.145   Madhya Pradesh 53.93 53.92 57.53 15.111 NCL   70.02 68.64 72.48 18.256    Madhya Pradesh 6.31 5.55 5.79 1.547   Maharashtra 35.98 34.18 35.36 8.714 WCL   42.29 39.73 41.15 10.261    Madhya Pradesh 15.18 14.12 13.08 3.299   Chattisgarh 103.04 110.14 115.19 27.857 SECL   118.22 124.26 128.28 31.156 MCL Odisha 107.89 110.44 121.38 31.069 NEC Assam     0.60 0.66 0.78 0.070 Total CIL   452.21 462.42 494.24 121.327  SCCL Andhra Pradesh 53.19 50.47 52.54 13.650 Others  - 51.00 52.88 64.06 9.57 Total   556.40 565.77 610.84 144.54 In a written reply to the House, Goyal said that as per Annual Plan document 2015-16 of Ministry of Coal, the annual target for overall coal production for 2015-16 has been fixed at 700 million tonnes. However, an action plan has also been drawn ...

The Dollar Business Bureau Increase in domestic production and sharp fall in global prices can help India to reduce its coal import bill this year. In June, the country imported 20.18 million tonnes of coal, almost equal to the shipment quantity of the same month last year, a report said citing a data collected by a private agency. During the last fiscal, the import of coal including coke and briquettes was worth $17.47 billion, which was 6.5% more than $16.47 billion imported a year ago, according to the government data. However in March this year, the import value of the commodity fell marginally to $1.50 billion from $1.57 billion recorded in the corresponding month of the previous year. Decline in import value ...