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 likely to clear new coal linkage policy soon
The Dollar Business Bureau The Government is expected to clear the Coal Linkage Policy in the coming week to ensure adequate supply of coal to power plants via the reverse auction route. “The proposals for the scheme known as ‘SHAKTI’ is to provide coal linkage to power plants was on the agenda of the Cabinet meet held on Monday. But, it did not come up for discussion due to time paucity as the meeting was organised on a short notice,” reported PTI citing a source. The proposal for the scheme would be discussed in the next Cabinet meeting that is going to be held sometime in the next week, the source said. According to the coal ministry proposal which was placed before the committee last year, a policy ...
Reverse E-Bidding to ensure adequate Fuel Supplies for Gas based Power Plants: Goyal
The Dollar Business Bureau (sourced from PIB) Three phases of auction of e-bid Re-gasified Liquefied Natural Gas (RLNG) have been completed so far and 4th phase is presently under operation from October 1, 2016 to March 31, 2017. Under the 4th phase, Power System Development Fund (PSDF) support ranging from Rs.0.21 per unit to Rs.0.22 per unit has been secured by the successful bidders in the reverse auction. Piyush Goyal, Minister of state (IC) for Power, Coal, New & Renewable Energy and Mines said this in a written reply to a question in Lok Sabha on Thursday. The Minister further informed the House that the Government has sanctioned a scheme for importing spot Re-gasified Liquefied Natural Gas (RLNG) in 2015-16 and 2016-17 for the ...
Essar Power focuses on getting stuck projects operationalised
The Dollar Business Bureau Essar Power on Sunday said it is focusing on getting its stuck projects operationalised and profitable, with no clear cut plan regarding monetizing its assets. The private utility has a debt of Rs.20,369 crore and is evaluating options to reduce it. Earlier, Essar Power had said it was considering to monetise some of its plants, including its gas-based units in the country. The company is planning to operationalise its 1,200 MW Mahan project in Madhya Pradesh and its two gas-based units in Gujarat. Essar Power has two captive gas-based units in Gujarat with total capacity of 500 MW and 515 MW each. The two plants are currently inoperative due to shortage of fuel. The 500-MW plant in Hazira in Gujarat was commissioned ...
Essar Power logs profit for first time since 1997
The Dollar Business Bureau Almost two decades after entering the power generation business, Essar Power finally logged profit of Rs 39 crore for FY16. The management is optimistic of continuing healthy business for the latest fiscal and is even expecting Rs 550 cr net income by the end of the financial year 2017, provided that the coal prices and further variables remain stable, revealed Sushil Maroo, Vice-Chairman of Essar power. Against the net loss of Rs 684 crore in FY15, Essar closed at net profit of Rs 39 cr in FY16. Low coal prices, reverse e-auction of coal, other effective measures and average Plant Load Factor of more than 80% gave a push to EBITDA (Earnings before interests, taxes, depreciation and amortization) by 168% ...
Essar Power plans to resume works at Hazira plant
The Dollar Business Bureau Essar Power is mulling plans to begin operations at its 500 MW multi-fuel combined-cycle power plant at Hazira in Gujarat by next quarter. The Bhander Power Hazira plant was established in 2006, and by October 2008 operations began in full fledge. However, due to high prices of fuel, the company suspended its operations three years ago. Sushil Maroo, Executive Vice Chairman at Essar, stated that the operations were suspended at Hazira gas-based plant due to non-availability of fuel at the favorable costs. The expensive fuel at staggering $12-14 per mmbtu stopped from even dreaming of power generation and without much of choice the plant’s shutters were down, he added. However, as the prices are falling now, the company will begin ...
Coal India increases production to 500 million tonnes in 2014-15
The Dollar Business Bureau Coal India Limited, (CIL), the government-owned coal mining company, produced around 500 million tonnes of fuel in the last financial year, registering an increase of 6.9% as compared to the previous year. “The increase in production in absolute terms was 31.81 million tonnes which is highest ever incremental increase in a single financial year since the inception of the company,” said Sutirtha Bhattacharya, Chairman of CIL. In the last financial year, the company has achieved 42.5% target of the absolute increase of 74.93 million tonnes recorded during the entire eleventh five-year plan. However, “the challenge is to ramp up our production to match with the targets and sustain it,” Bhattacharya said. During the last four ...
