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Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU


The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement.

“We have short-listed about 21 global companies to import some 250 mt over the next 10 years as part of the long-term-off take deals,” Mr Partha Bhattacharyya, Chairman, Coal India, told reporters on the sidelines of an event on mine safety.

However, Mr Bhattacharyya declined to disclose the pricing details. As part of the long-term off-take deals, Coal India expects to start imports from next fiscal. Shares of Coal India ended marginally lower on BSE at Rs 312.50 (US$ 6.92) on Thursday.

Mr Bhattacharyya said environmental issues such as a ban on mining in critically polluted areas would impact the company's targeted output in the current fiscal.

The Environment Ministry had imposed a temporary moratorium on development projects in some 43 industrial clusters, which were found to be critically polluted. Such a ban was based on the Comprehensive Environmental Pollution Index (CEPI), which mapped the pollution levels in industrial clusters. Some 17 mines of Coal India including that of Chandrapur and Korba were part of the identified critically polluted sectors.

“CEPI was supposed to be reviewed in October, but it has been extended till March. This would impact our output by 16 mt,” Mr Bhattacharyya said.

Coal India had set a production target of 460 mt for the current fiscal. Coal India expects the shortfall to increase to 39 mt in 2011-12, if the moratorium continued beyond March 31, 2011. (1 INR = 0.0221607 USD  - Source: www.xe.com)
Source: The Hindu



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Recent News

Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal. &q ...


Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...


Sunday, 19 December 10
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COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...


Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...


Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...


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