Coal India For Quick Exploitation Of Domestic Reserves

Coal India For Quick Exploitation Of Domestic Reserves

State-run miner Coal India Ltd is emphasising on “quick” and “swift” exploitation of the domestic fossil fuel reserves in order to meet future demand and reduce imports, an official said in Kolkata on Thursday.

“The large planned new coal based thermal capacity is likely to put pressure on coal resources,” the company’s newly appointed interim Chairman Gopal Singh said while addressing the shareholders at the 43rd Annual General meeting.

“Coal based power generation capacity of 125 gigawatt in 2012 is likely to go up to more than 330-441 GW by 2040 (192 GW in FY 2017).”

“The demand for these plants is likely to be first met by domestic coal, which will require quick exploitation of our reserves,” Singh said.

He said coal production increased in the last three years substantially, resulting in reduction in imports and foreign exchange savings of Rs 25,900 crore.

“Import dependence in oil and gas is understandable given the poor reserves we have but import dependence on coal particularly non coking coal is something that can be addressed by swift exploitation of domestic coal reserves,” he said. Read More…

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