India's coal imports for the entire financial year 2014 are likely to grow a subdued 3.4 per cent to 150 mt, a stark contrast to the 42 per cent growth registered in 2012-13. The sharp drop in coal imports is due to rupee's depreciation, as well as a slump in demand. These two factors offset the impact of depressed global prices.
Author: admin (Infratructure Today)
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Coal imports to rise 3.4 per cent in FY14
India's coal imports for the entire financial year 2014 are likely to grow a subdued 3.4 per cent to 150 mt, a stark contrast to the 42 per cent growth registered in 2012-13. The sharp drop in coal imports is due to rupee's depreciation, as well as a slump in demand. These two factors offset the impact of depressed global prices.
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Afcons eyes bigger LNG projects
Afcons Infrastructure, which has completed the engineering procurement and construction (EPC) work on the Kochi LNG terminal, is now looking for more such projects in this space. Afcons was the only Indian company at Kochi involved in the construction of the terminal facility, besides CTCI Corporation from Taiwan and IHI of Japan.
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Penal action on neglected mines
The Centre has decided to invoke bank guarantee partially on UCM Coal Company Limited, a joint venture of Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), Chhattisgarh Mineral Development Corporation (CMDC) and Maharashtra Power Generation Company (MAHAGENCO), for delay in development of two Chhendipada coal blocks. However, the inter-ministerial group (IMG) did not favour de-allocation of the coal blocks at this stage.
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Penal action on neglected mines
The Centre has decided to invoke bank guarantee partially on UCM Coal Company Limited, a joint venture of Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), Chhattisgarh Mineral Development Corporation (CMDC) and Maharashtra Power Generation Company (MAHAGENCO), for delay in development of two Chhendipada coal blocks. However, the inter-ministerial group (IMG) did not favour de-allocation of the coal blocks at this stage.
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Lack of rail link
CIL said it is unable to tap the potential for supplying 300 million tonne of additional coal due to the absence of critical rail links for lifting the dry-fuel. If three critical rail links are fast-tracked, the company will ensure 300 mt additional supply to consumers who are facing fuel shortages.
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Lack of rail link
CIL said it is unable to tap the potential for supplying 300 million tonne of additional coal due to the absence of critical rail links for lifting the dry-fuel. If three critical rail links are fast-tracked, the company will ensure 300 mt additional supply to consumers who are facing fuel shortages.
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IMG to scrap 30 captive coal blocks
An inter-ministerial group (IMG) tasked with suggesting punitive measures for holders idling their captive coal blocks has recommended cancellation of 30 mines, making it the single biggest de-allocation so far. Apart from several major firms, many smaller companies are now understood to be included in the list. In its two-day meeting recently, the panel considered the status of 61 captive blocks.
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NLC to buy coal mines abroad
Neyveli Lignite Corporation (NLC) would acquire coal mines abroad to fuel its power sector expansion plans in the country. In this regard, the company has got request for partnership from miners in Asia and Africa. The company wants to work in a JV with the overseas partners to source coal to India, according to B Surender Mohan, Chairman and Managing director, NLC.
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ONGC sees 25-30 mscmd from east coast gas block
Oil and Natural Gas Corporation (ONGC) expects peak gas output of 25-30 million standard cubic metre per day (mscmd) from its block off the country's east coast, Exploration Director NK Verma said. Gas production from the deep water block in the Krishna Godavari (KG) basin will begin in 2017. The northern part of the block holds over 2 trillion cubic feet (tcf) of gas, Verma said.