Coal India Limited (CIL) has announced that it is prepared to meet the increased demand for coal from the power sector in the country.
The company is aiming to supply 156 million tonnes of coal to the power sector during the April-June 2023 quarter, which is 25.6 per cent of the enhanced annual dispatch target of 610 million tonnes for the sector in 2023-24.
CIL expects to achieve this target, thanks to a strong stockpile of 68 million tonnes expected at its pitheads by the end of March 2023 and the company's plan to increase production to 700 million tonnes by the end of FY23.
“Even after despatching the planned coal to power utilities in the first quarter of FY’24, CIL is likely have a healthy 50 MT coal stock at its pitheads by June’23 end," a senior official of the company said in a statement.
The company is confident of meeting the enhanced 610 million tonnes coal supply target to the power sector, which is 20 million tonnes more than the initially projected requirement of 590 million tonnes, according to the statement.
CIL's target alone accounts for nearly three-quarters of the total 821 million tonnes of domestic coal demand projected for the power sector in 2023-24.
"Of the total 821 MT domestic coal demand projected for the power sector in 2023-24, CIL’s target alone accounts for nearly three-quarters at 610 MTs," the statement said.
The company is well on track to close FY23 with more than 585 million tonnes dispatched to the power sector, which represents an 8.3 per cent jump over the previous year.
“We are fully cognisant of the importance of meeting the demand surge from power sector and would do everything within our means to meet it”, said the executive.
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