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INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 – PTI

India's coal imports in the just accomplished FY 2015 improved by 33 per cent to about 240 million tonnes. According to mjunction Managing Director & CEO Viresh Oberoi , "Coal import haveincresed by 33 per cent to about 240 million tonnes in the last fiscal, "

Mjunction Services is a e-auction cooperative business enterprise between Tata Steel and SAIL. The imports have increased due to drop in the coal prices in the international market.

According to him "With the fall in international coal prices, the companies, including the power firms, in the western and southern region are buying imported coal. The coal import in 2013-14 was about 180 million tones. It is expected that the coal import in the ongoing fiscal is probably between 220-250 million tonnes."

State-run Coal India fulfills greater than 80 per cent of the domestic requirement.

 According to Coal and Power Minister Piyush Goyal , "When the country is sitting on a vast coal reserve, to import it is unfair. The production of coal has increased from 432 million tonne to 460 million tonne and will reach 493 million tonne this year, which will be a raise of over 30 million tone,"


The government has set an striving target of one billion tonne coal production for Coal India by 2020.

 

Thursday, 16 April 15

 

http://www.coalspot.com/news/3927/india-coal-imports-rise-by-33-pc-to-240-mt-in-fy15/3

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