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International Coal Miners Need to Understand Indian Market - CEO WCA

Coal News - Published on Thu, 05 Dec 2019

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World Coal Association feels that international companies will require time to understand India's supply chains and how to meet growing demand of coal, following opening up of the Indian coal sector to foreign direct investment. World Coal Association CEO Ms Michelle Manook said “As with any large and complex investment decision, there are many risk factors to consider when investing in energy, the location of the blocks, transportation logistics, the prospect of further blocks coming to auction in order to grow your position, the end-user like power sector or for iron ore and steel, just to name a few. Investors will take their time to properly consider all of these elements as they would in any market. And it is these elements that will guide investment and the speed of the opening up of the coal sector in India.”

She added that “They could see from the recent government-to-government initiatives between India and Russia over the import of metallurgical coal that the Indian government understands the importance of government policy which encourages investment security and diversity. What is also clear is that coal will remain the main energy source in India for the next 30 years and that investment in the coal industry is vital to modernising the coal industry, particularly through innovation. This will create efficiencies along the production chain and also create better and cleaner energy for consumers. Reliable, stable electricity grids are vital to supporting the development of industries, businesses and the public services that are the foundations of modern India. Coal will also support the growth in India’s renewables by providing system reliability, which complements renewable intermittency.”

She said the World Coal Association looks forward to engaging with the Indian Government and local industry in the new year to support this evolution.

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Posted By : Rabi Wangkhem on Thu, 05 Dec 2019
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