Commercial mining of coal to reduce dependence on imports: FICCI
The Dollar Business Bureau Industry association Federation of Indian Chambers of Commerce and Industry (FICCI) welcomed the Government decision for allowing commercial mining of coal and said that it will support ‘Make in India’ initiative and reduce the country’s dependence on coal imports. The Union Cabinet on Tuesday cleared a process of bidding for commercial mining after four years after enabling the sale and commercial mining of coal through the Coal Mines (Special Provisions) Ordinance, 2014. “FICCI welcomes Cabinet approval to introduce commercial mining of coal and sees it as a landmark policy decision that will change the face of Indian Coal Sector by ushering in rebalancing of prices and market dynamics riding on efficient and large-scale mining,” the industry association said in a statement on Wednesday. It considers that ...
Coal gas to help reduce import bill by $10 bn in 5 years
The Dollar Business Bureau The government can encourage the use of domestic coal gas to produce urea and other chemicals in order to cut down on its imports bill by as much as $10 billion over the next five years. Coal Secretary Susheel Kumar said the imports of petroleum and natural gas can be slashed if we are able to produce gas from coal. "If we are able to replace this import by indigenous coal gasification ... it can safely be said that in next five years time, about $10 billion worth of import can be substituted. That's the mechanics which one has to really work on," Kumar told PTI in an interview. "Our dependence on petroleum and natural gas will be reduced ... We know that coal ...
Govt working with banks to ramp up PoS machines: Goyal
The Dollar Business Bureau Coal and Power Minister Piyush Goyal said on Tuesday that the government is working with foreign companies and banks to increase the volume of point-of-sale (PoS) machines for cashless transactions. “We are certainly working with the banks and also with the international companies to see how we can ramp up PoS machines,” Goyal said while speaking at the ‘Digital Economy Forum 2016’ in New Delhi. The Minister further said that he personally feels that 6 months down the line PoS machines would slowly become irrelevant and may be 2 years down the line a new PoS machine would even not be needed. “Today, smartphones have become the PoS machines,” he added. In reply to a question, Goyal said, “It was Reserve ...
Coal India-NTPC JV to revive fertiliser plants
The Dollar Business Bureau Coal India Limited announced that it has entered into an agreement with state-run power company NTPC Ltd. for revival of its two fertilizer plants. According to the deal, the 50-50 joint venture between Coal India and NTPC will establish and operate new fertiliser (ammonia urea) complex at Gorakhpur in Uttar Pradesh and Sindri in Jharkhand units of the Fertiliser Corporation of India Limited (FCIL). The joint venture will also market FCIL’s products. "The Ministries of Coal and Power directed CIL and NTPC to enter into joint venture for revival of these projects and hence a JV agreement was signed between the two companies," CIL said in an announcement. During the meeting held at the Prime Minister’s office, both Coal and ...
Govt aims to increase domestic coal production by 2019-20
The Dollar Business Bureau Earlier this year, the government had set up an ambitious target of doubling domestic coal production over a period of five years In a bid to curb rising imports, the government on Monday said it has prepared a roadmap to increase domestic coal production. “The focus of the government is on increasing the domestic production of coal which includes efforts to expedite environment & forest clearances expeditiously, pursuing with state government for assistance in land acquisition and coordinated efforts with railways for movement of coal,” Power & Coal Minister Piyush Goyal said, in a written reply to a question in the Rajya Sabha. Coal imports have continuously surged over the past three years. Total imports during 2012-13, ...
Coal India to produce 1000 million tonnes of coal by 2020
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 ...
