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Significant Reduction in Non-Coking Coal Imports Expected by FY2025-26, Fueled by Increased Domestic Production, says Central Coalfields Ltd Chairman

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Significant Reduction in Non-Coking Coal Imports Expected by FY2025-26, Fueled by Increased Domestic Production, says Central Coalfields Ltd Chairman

Posted on : 27-05-2023 | Author : Press Trust of India

Imports of non-coking coal in India are expected to see a significant reduction by the fiscal year 2025-26 due to increased domestic coal production, according to P M Prasad, Chairman and Managing Director of Central Coalfields Ltd (CCL). Prasad, who leads the Coal India subsidiary, stated that Coal India Ltd, the world's largest coal miner, is projected to achieve a production capacity of one billion tonnes by FY26. The target for the current fiscal year is set at 780 million tonnes, with the aim of reaching 880 million tonnes by FY25. Prasad expressed confidence that if these targets are met, non-coking coal imports can be minimized within three years. India has experienced a significant growth in overall coal production, with a rise of about 22.6% to 893.08 million tonnes in FY2022-23 compared to FY2018-2019. The Ministry of Coal has prioritized increasing domestic coal production to reduce reliance on imports. Prasad highlighted the efforts of entities such as NTPC, DVC, SCCL, and other power plant producers in augmenting coal output. Additionally, there is a focus on increasing coking coal production to reduce dependence on imports. The government has set targets to enhance coking coal production and washing capacity. The aim is to blend Indian coking coal with imported coking coal to ensure suitability for blast furnace use in steel manufacturing. The total coal imports in FY23 were 249.06 million tonnes, showing a rise of over 24% compared to the previous fiscal year. Coal India Limited operates through its subsidiaries across various mining areas in India, with a total of 318 mines.Imports of non-coking coal in India are expected to see a significant reduction by the fiscal year 2025-26 due to increased domestic coal production, according to P M Prasad, Chairman and Managing Director of Central Coalfields Ltd (CCL). Prasad, who leads the Coal India subsidiary, stated that Coal India Ltd, the world's largest coal miner, is projected to achieve a production capacity of one billion tonnes by FY26. The target for the current fiscal year is set at 780 million tonnes, with the aim of reaching 880 million tonnes by FY25. Prasad expressed confidence that if these targets are met, non-coking coal imports can be minimized within three years. India has experienced a significant growth in overall coal production, with a rise of about 22.6% to 893.08 million tonnes in FY2022-23 compared to FY2018-2019. The Ministry of Coal has prioritized increasing domestic coal production to reduce reliance on imports. Prasad highlighted the efforts of entities such as NTPC, DVC, SCCL, and other power plant producers in augmenting coal output. Additionally, there is a focus on increasing coking coal production to reduce dependence on imports. The government has set targets to enhance coking coal production and washing capacity. The aim is to blend Indian coking coal with imported coking coal to ensure suitability for blast furnace use in steel manufacturing. The total coal imports in FY23 were 249.06 million tonnes, showing a rise of over 24% compared to the previous fiscal year. Coal India Limited operates through its subsidiaries across various mining areas in India, with a total of 318 mines.