Due to a steady domestic production and improved quality control, India saved over Rs 1 trillion in coal import bill over the last four years.
Amidst the chaos seen in the power sector, with 22,000 MW thermal power projects lying idle for the need of coal or gas and lenders taking power generating assets to National Company Law Tribunal (NCLT) to recover dues, the transmission sector- with longer life cycle and lower risks- has exhibited the only ray of hope for investors and developers alike.
Even as demand for cement has picked up from Q3 FY2018 and the trend is expected to continue in Q4 FY2018, with the growth expected at around 5% in FY2018 and FY2019, expectation of higher petcoke, coal and diesel prices are likely to put pressure on the profitability margins and debt metrics of the cement companies in the coming quarters.
Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal, presided over the inaugural session of the day-long Workshop on Â‘Quality of CoalÂ’ as Chief Guest in New Delhi. The workshop included brainstorming and technical sessions among the stakeholders of the coal and power sectors to bring in greater efficiency and self-sufficiency in the two sectors in India.
India has total coal stocks of 80 million tonnes (MT) at its power plants and coal mines put together at the end of February, thanks to the ongoing slump in the demand for power from distribution utilities and the low capacity utilisation of thermal power stations.
It's early days for us. We have launched our operations in India last year. We said, let's not get the cart before the horse. Let's create a world-class delivery capability. So we have built that team and we are continuing to expand that team with quite an aggressive hiring programme. Now, more recently, we have been bringing on the sales, marketing and expertise.