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India’s Coal imports to rise to 200Mt this fiscal
1,346views 2015-03-26 11:26As the government is working on Prime Minister Narendra Modi’s promise to provide power for all, India’s coal imports may touch a record 200 million tonnes in the current fiscal. This signals a 19 per cent rise in imports, media report quoted Anil Swarup,Coal Secretary.
India is the world’s third-largest coal importer and the demand for Coal is estimated to be 787.03 million tonnes in 2014-15. The country purchases most of its coal from Indonesia, Australia and South Africa.
State-run and private coal companies in India are on a capacity addition spree right now and this may lead to a reduction in imports in the next fiscal. Imports are likely to back at the 160 million tonnes mark from next fiscal that begins from April 1.
The state-run Coal India Limited(CIL) is likely to enhance production by 50 million tonnes in 2015/16 to 550 million tonnes, Swarup told Reuters. The government targets to produce 1 billion tonnes Coal by 2019/20.
Source: Commodity Online -
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