Coal news and updates

Coal supplies were cut in April following slowing demand, but going forward, the key raw material will come back into the scheme of things, said Coal Secretary Anil Swarup, speaking to CNBC-TV18. 

 

Ujwal DISCOM Assurance Yojana (UDAY) will pick up and demand will come from power sector, he said. Under the UDAY scheme, the states can pick up 75 percent of the power distributors' debt.  

 

Under the UDAY scheme, the states can pick up 75 percent of the power distributors' debt.  Swarup is hopeful that there will be demand for coal from steel and aluminium sectors as well. 

 

Steel sector is on a strong wicket, as the imposition of minimum import price and safeguard duty on imports has boosted local supplies. Cement as a space has seen growth largely driven by investment in road and infrastructure, he said.  Regarding divestment and buyback in Coal India, he said there have been no formal discussions as such.

Source: Moneycontrol