CIL plans to prepare 80-85 MT of imported coal in the current financial year

An official said that Coal India Limited (CIL) aims to replace 80-85 million tonnes of imported dry fuel with more domestic supplies in the current financial year.

New Delhi (Natural Energy News): The officials at Coal India Limited told that the miner has inquired power plants in the coastal regions to provide proposals to decrease foreign currency exchange to gradually boost their unit.

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CIL Director Marketing SN Tiwari said that we are expecting an alternative to 80-85 million tonnes of imported coal this year and have asked us and Railways to make proposals for domestic supply to coastal power plants.

The official said that the country had imported 248 million tonnes of coal in 2019-20, resulting in an outflow of about 1 lakh crore of foreign exchange.

He explained that the administration was likely to analyze proposals to prepare accommodations on numerous topics such as quality and shipment to make domestic coal impressive on imported coal.

Tiwari said that PSU Key Residues is committed to maintaining a steady flow of coal to various entities and has taken customer-friendly steps.

Industry sources said royalty and cess account for about 62 per cent of the domestic coal price, for which imports get a comparative advantage.

The country's coal imports increased by 11.6 percent to 19.04 MT in September.

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With the increase in fuel consumption by thermal power plants and other industries, shipments increased to 21.5 million tonnes in October, compared to 18.2 million tonnes in the same month last year.

However, the April-October period of the current fiscal saw a decline of 18.8 percent in total coal imports to 116.81 million tonnes.

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