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New UserCoal India witnesses fall in coal sales during first half of 201617
04 Oct 2016
Coal India’s coal sales during the first half of 201617 declined about 1 per cent
against the previous corresponding period on the back of adequate coal stacked at power
plants and demand growing at a pace less than anticipated.
Production growth for the period was flat although the company achieved 90 per cent of its
targets. Despite a marginal fall in sales, it achieved 88 per cent of its sales target for the
period.
During the period under review, Coal India managed to produce 230 million tonnes on coal and sold around 249 million tonnes thereby
reducing stocks by about by some 19 million tonnes during the same period.
On Sunday Piyush Goyal, minister of state for power, coal, new & renewable energy and mines said that the government to trying to find a
way to replace all imported thermal coal usage by domestic coal.
“To this effect I have asked Bhel to find a design to modify plants that were built only to take imported plants thus enabling them to
consume domestic coal,” he said on the sidelines of the 115th Annual Session of MCC Chambers of Commerce & Industry in Kolkata.
On Coal India not growing at the pace intended, Goyal said: “This is a temporary demand supply mismatch.”
However, we was hopeful that the country will consume more than the targeted 1 billion tonnes coal that Coal India has been asked to
produce by 2020.
Source: ET