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Indian power sector to miss coal import target this FY

Steel News - Published on Wed, 01 Feb 2012

The power sector is likely to miss the non coking coal import target of 55 million tonnes for the current fiscal as companies have imported only 30 million tonnes till December.

An government official said that \"With the international prices of the non coking coal being high, the power firms are not importing much of the fossil fuel.”

He said that at present, the price of non-coking coal is hovering over USD 110 per metric tonne.

Last fiscal, 45 million tonne was imported against the target of 50 million tonne of non coking coal for the power sector.

Against the overall coal import target of 142 million tonne this year, the power sector has been give a target of 55 million tonne, steel sector 30 million tonne and rest by the sectors like cement, sponge iron among others.

The government had last month said that with the passage of time, the country\'s dependence on imported coal would not come down but would go up.

Minister of State for Coal Pratik Prakashbapu Patil had said that \"There will be more dependency on imported coal. The dependency has increased from 6 per cent to 13% in the last five to six years.”

According to the Planning Commission, the demand-supply gap for coal in the ongoing year is likely to touch 142 million tonne with domestic availability being only 554 million tonne against the requirement of 696 million tonne.

(Sourced from ET)

Posted By : admin on Wed, 01 Feb 2012
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