Indias coal imports up 40% in Nov as restocking demand picks up
The Dollar Business Bureau The imports of coal into India has increased by 40% to 19.18 million tonnes in the month of November, as the demand for winter restocking has picked up and due to low position of coal stock in power plants. “Coal import (all type of coals) in November 2017 stood at 19.18 million tonnes (provisional), against 13.70 million tonnes in November 2016 and 19.77 million tonnes in October 2017,” according to the recent data released by mjunction services. mjunction services ltd, a pioneer in e-auction services, is an online sales and procurement platform promoted jointly by Tata Steel and SAIL. The surge in imports is primarily due to the 4.18 million tonnes increase in the imports of non-coking coal during the ...
Govt undertakes revival of closed fertilizer projects to make India self-reliant
The Dollar Business Bureau A Joint review meeting on revival plans for closed fertilizer projects was held today, to realise PM Narendra Modi's vision of ‘Fertilizer Security for Food Security'. The two-pronged strategy includes existing fertilizer capacity augmentation by increasing the efficiency of the plants and revival of closed fertilizer projects. "With the revival of the fertilizer projects, Gorakhpur, Barauni, Sindri and Talcher, an additional annual production capacity of 75 LMT would be created making India self-reliant in meeting the annual domestic demand of around 320 LMT, from being a net importer currently," Ananthkumar, Union Minister for Chemicals & Fertilizers and Parliamentary Affairs said, after the meeting. "Financial allocations and the ground level work would start in 2017 and the five plants would become fully functional by 2020-21," he added. Through optimum utilisation of existing capacity, India ...
Govt undertakes revival of closed fertilizer projects to make India self-reliant
The Dollar Business Bureau A Joint review meeting on revival plans for closed fertilizer projects was held today, to realise PM Narendra Modi's vision of ‘Fertilizer Security for Food Security'. The two-pronged strategy includes existing fertilizer capacity augmentation by increasing the efficiency of the plants and revival of closed fertilizer projects. "With the revival of the fertilizer projects, Gorakhpur, Barauni, Sindri and Talcher, an additional annual production capacity of 75 LMT would be created making India self-reliant in meeting the annual domestic demand of around 320 LMT, from being a net importer currently," Ananthkumar, Union Minister for Chemicals & Fertilizers and Parliamentary Affairs said, after the meeting. "Financial allocations and the ground level work would start in 2017 and the five plants would become fully functional by 2020-21," he added. Through optimum utilisation of existing capacity, India ...
Coal imports fall by 22% to 14.31 MT in Jan 2017
The Dollar Business Bureau Coal imports have declined by 21.7% to 14.31 million tonnes in January as the power utility companies did not lift enough fuel due to the surplus stock available with them. Import of all types of coals in January this year was 14.31 million tonnes (provisional) compared to 18.28 million tonnes in the same month in 2016- an ecommerce platform, mjunction services limited jointly created by Tata Steel and SAIL told PTI. “In power sector, the state utilities are replete with stock and are aiming to curb imports altogether (except for coast-based plants) by March 2017. This explains the substantial drop....In steam coal imports in January 2017 vis-a-vis the same month last year,” said Vinaya Varma, Chief Executive Officer, mjunction. There was ...
Govt has allocated 75 coal mines for end-users: Goyal
The Dollar Business Bureau The Government has allocated 75 coal mines (44 coal mines through allotment and 31 coal mines through e-auction) for specified end uses, a senior government official said on Monday. “The expected revenue of these 75 coal mines, which shall accrue to the coal bearing states under Coal Mines (Special Provisions) Act, 2015 is estimated at more than Rs. 3.53 lakh crores during the life of mine/lease period,” Coal Minister Piyush Goyal said in a written reply to Rajya Sabha. The government estimates the total revenue from the e-auction of 31 coal cines to be Rs.1,96,698 crores. It has already generated Rs.2,237 crore revenue from the allocation of 74 coal mines as on May 31. Meanwhile, the off-take of Coal India Ltd. ...
Govt will not hike urea prices for the next 3 yrs
The Dollar Business Bureau The government decided not to hike urea prices for the next three years, said Union MoS for Chemical and Fertilizers, Hansraj Gangaram Ahir. While addressing the gathering present at the NDA government’s ‘Vikas Parv,’ Ahir stated that some measures have to be implemented to benefit farmers as Prime Minister Narendra Modi-led government strives for the welfare of the farmers. Ahir was accompanied by the Civil Aviation Minister Ashok Gajapati Raju for the event. The minister advised farmers to use neem-coated urea as it requires less investment and output too increases than with the usage of the regular urea, Ahir added. Meanwhile, plans are afoot to revive FCI’s Talcher fertilizer plant which may commence soon with an investment of Rs.6000 crore. ...
Coal price rise to up power generation cost by 10ps
The Dollar Business Bureau The recent hike in coal prices may lead to a rise by 10 paise in the cost of generation for coal-based power plants, revealed ICRA, a domestic credit rating agency. The price hike of coal announced by state-owned Coal India Ltd may result in slight increase in the cost of power purchased by distribution companies, said the agency. As per the estimates of ICRA, the cost of thermal power generation will increase by 9-10paise, said Sabyasachi Majumdar, Senior Vice President of the agency. Provided that about 60% of the total power purchased by discoms is for coal-based power generators, the rise in the cost of power procurement for discoms across India may go up by 6 paise per ...
Core sector growth up 8.5% to touch 4-year high
The Dollar Business Bureau The core industry growth has touched a four-year high, with the Index of Industrial Production (IIP) surging up 8.5% at 176.4 in April, 2016, when compared to the growth of 6.4% in the previous month of the same year. The cumulative growth of the index rose 2.7% during FY 2016 against 4.5% in the previous fiscal, Ministry of Commerce and Industry said in a statement. The IIP comprises of eight core industries that include coal, cement, crude oil, electricity, fertilisers, natural gas, refinery products and steel. These eight sectors comprise around 38% of the country’s overall industrial production. According to the Ministry of Commerce data, the index for petroleum refinery products increased 17.9% in April this year over ...
