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Coal Likely to Remain in Short Supply Until 2024 - CIL

Coal News - Published on Wed, 11 Sep 2019

Image Source: steelguru.com
National miner Coal India has informed the ministry of coal in a recent note, coal is likely to remain in short supply until 2024. Considering the current fuel supply agreements and several MoUs for coal supply, the current year will witness a deficit of 168.45 million tonne; the next year’s shortfall will be 71.25 million tonne. The deficit may widen to 262.4 million tonne in the current financial year, if the Centre brings in more schemes. And if such a scenario prevails, the deficit will be 111.27 million tonne for the next financial year. The deficit will continue until 2026 in such a case.

In the current financial year, Coal India has set a production and sales target of 660 million tonne, which it plans to scale up to 710 million tonne in the next financial year. During 2024-25, the company aspires to achieve a production of 940 million tonne of coal. CIL expects a spurt in demand of coal as more households get electricity connections and industrial demand bounces back. Coal offtake to the power sector increased by 29.3 tonne during the last 11 months, thereby improving the coal stock situation at power units. CIL sold 411.5 million tonne coal to the power sector during the April-February period last year.

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Posted By : Rabi Wangkhem on Wed, 11 Sep 2019
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