Coal news and updates

Coal India saw 13 million tonnes of fuel being booked during the first five days of auction for long term coal supplies to captive power plants.

A total of 18 million tonnes would be offered at this auction for captive power plants and officials from the company are hopeful that the entire volume would be booked.

“With three more days to go before the closure, we are hopeful that the total quantity of around 18 Million Tonnes put on the block for CPPs would have an overwhelming response” said an official of CIL.

 

Barring Amrapali of Central Coalfields, where logistic constraints witnessed scanty booking coupled with the fact that haulage distance of coal from the mine area is more since there are no power plants in proximity, the response to the auction has been encouraging.

Nevertheless, coal production by Coal India for the April-July 2016 was 162.38 million tonnes. This has been a 4 per cent growth over the previous corresponding period. For July 2016, the company clocked a production of 36.74 million tonnes, growth being 5.5 per cent against the previous period.

Coal stocks at coal fired power utilities continue to be high at around 31 million tonnes with a comfort of 23 days stock. Power utilities have been able to reduce their stock by 8.09 million tonnes at their end since the beginning of the fiscal.

Coal stocks at pitheads as of 31 July 2016 stood at 45.33 million tonnes against 57.64 million tonnes at the beginning of the fiscal leading to a reduction of 12.31 million tonnes during April-July 2016.

Coal sales during the first four months of the current fiscal was 174.66 million tonnes – an increase of 4.36 million tonnes on a year-on-year basis, registering a growth of 2.6 per cent. Coal off-take was 41.47 million tonnes during July recording a marginal growth of 1.4 per cent.

SOurce: TOI