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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
 The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the country to utilise excess coal.
"We may set up power plants if stockpiles keep on rising. Currently, stockpiles stands at 53 mn tonnes," CIL Chairman P S Bhattacharyya told reporters on the sidelines of a coal summit organised by mjunction services, a 50:50 JV between Tata Steel and SAIL for e-commerce.
Coal India, which is going to launch its IPO in the second half of October, is already in pact with state-owned NTPC to set up two 2,000 MW power plants in Jharkhand.
"The inventory is rising mainly due to shortage of railway wagons," Bhattacharyya added. Coal India generally needs 205-210 wagons a day. But, the firm had previously said that on an average it was getting merely 170 wagons a day.
In the last fiscal, the 100 per cent government-owned firm produced 431.5 million tonnes of coal meeting the requirement of use industries like power. The Centre is diluting its 10 per cent stake in the upcoming IPO, which is expected to raise Rs 12,000-15,000 crore.
To meet the rising coal requirement of power major NTPC, Coal India said it will soon come out with a tender to import the raw material for the power PSU.
"We will float the tender in next few months to import six million tonnes of coal for NTPC," Bhattacharyya added. The country's overall coal output during 2009-10 stood at about 532 million tonnes while consumption was over 600 million tonnes.
To meet the rising demand of coal, CIL is looking at forming joint ventures with global mining companies, taking equity in the mining projects and sourcing coal from such firms.
"Coal India has already shortlisted three global firms for a possible partnership," Bhattacharyya added.
It is learnt that US-based firms Massey Energy and Peabody Energy, besides Indonesian Novem/Sinarma, have been shortlisted for a possible partnership either through JV or equity infusion.
Bhattacharyya also said that the company is investing in projects to wash coal to increase its calorific value. CIL plans to commission 20 washeries with a capacity to wash 111 million tonnes of fuel by 2015 at an investment of Rs 4,000 crore.
"Prices of washed coal will go up. Average price of our coal is $20 a tonne. Washing would escalate its cost to USD 26-27 a tonne," he said. Prices of international coal, with higher calorific value, starts from $45 a tonne.
Source: The Economic Times
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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
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Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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