Falling coal imports and rising prices have hit the sector hard in the current fiscal
New Delhi:
Maharatna Coal India Limited (CIL) said the second half of the current financial year was very difficult for the sector due to falling imports and a threefold increase in global dry fuel prices.
In addition to these reasons, prolonged monsoons in coal-bearing areas make the situation more difficult, CIL said in a statement.
Despite the challenges, the company due to “meticulous planning” achieved the opportunity and met the additional coal demand for thermal power plants, the statement added.
CIL has supplied about 20 million tons of additional coal due to the cut in dry fuel imports.
The company accounts for more than 80% of coal production in the country and expects to produce one billion tons of coal by 2023-24.
