Search Result for : Coal Auction

The Dollar Business Bureau The government plans to replace about 15 million tones of imported coal with indigenous coal in the next six months, and it urged the industry to come up with new ideas for finding a sustainable solution for this challenge. India continues to import coal from other countries despite a surplus of coal in the country because the country’s power plants have been designed not to function on indigenous coal. Referring to the power decentralization initiatives provided by the government, Coal Minister Piyush Goyal said the government is focusing on distributing energy production to consumers so that they could start generating power. “In fact, the rooftop solar power programme will be expanded to 300 MW today to the 40000 MW in ...

The Dollar Business Bureau The government has asked Karnataka to fast track the process of auctioning 14 iron ore mines. The Minister of State for Mines Piyush Goyal met the state authorities on Tuesday and reviewed the progress on auctions. The government has set the last date for securing the bids as on July 18.   The state, in turn, has assured the government that it will issue the final letter of intent (LoI) by September 22 for auctioning process. Karnataka’s auctioning process has been delayed because of several problems related to stamp duty. Recently, the state cabinet has resolved the issue of auctioning process by clearing a proposal to revise the Stamp Duty Act. In addition, the Central government had also requested the Karnataka government ...

The Dollar Business Bureau Coal Secretary Anil Swarup on Tuesday said the government would not conduct any auction of coal blocks for the next two to three months since there are not many takers of coal mines. "I don't see auction of coal blocks in the near future at least in the next two to three months....We feel that this may be not the right time for going ahead with auctioning of mines because there are not many takers of coal," Swarup said. He said the Coal Ministry is not planning to invite private players, but would make further decisions when demand picks up in the domestic market. Answering a question on the next step of commercial mining, Swarup said problems persist in this segment. “Going ...

The Dollar Business Bureau The government on Thursday asked the state-owned power generation companies to halt fuel imports and purchase coal from Coal India Ltd. The appeal comes in the backdrop of CIL’s inability to find buyers for the coal produced by the company. Many power companies have preferred to import coal from the overseas markets than buying it from CIL. “We have coal but there aren’t many takers for it. It is in this context that let me request the delegates from the states which are currently importing coal, that they should immediately stop the imports because Coal India will offer coal to them,” Coal Secretary Anil Swarup said, at the inauguration of a two-day conference on power. The government aims to produce ...

The Dollar Business Bureau Vedanta Ltd, the world’s leading natural resources company, is planning to buy coal mines by bidding in auctions, as the mining major is seeks meet the energy requirements of its aluminium plants. “Numerous initiatives are being taken to meet our coal requirements. We will source our overall coal mix from low-cost imports and auctioned coal to optimise the cost in financial year 2016-17. We are also looking to optimise our coal mix further by securing linkage coal through the auction route,” Vedanta said. The government on its part is yet to decide on the dates for holding the fourth round of coal mine auctions that were cancelled in December last year. The company further ...

PTI  State-owned CIL will this month hold the second phase of special e-auction for the current financial year for providing coal to power plants as the government's targets 24X7 power supply across the country.  "The special forward e-auction for 2016-17 for power producers-Phase II will be conducted as per the terms and conditions followed for Special Forward E auction for 2016-17 Phase I and as per the scheme of Special Forward E Auction for power producers," an official said.  The special forward e-auction for 2016-17 for power producers including captive power plants (CPP)-Phase II would be held on May 24 and May 25, the official added.  "The reserve price for power sector consumers will remain at 10 per ...

The Dollar Business Bureau   India has seen the lowest ever energy deficit at 2.1% in FY 2016, Power Minister Piyush Goyal informed the Lok Sabha in a written reply on Thursday. He also provided details of power shortage in the country in the previous twenty years as reported by the states and Union Territories. Currently, India is importing power only from one country Bhutan – mainly due to its surplus power that is produced from its hydel power stations with the Indian government’s assistance. The energy totally imported from Bhutan was more than 5 billion units in FY 2016, as per the data released by the Ministry of Power. According to the ministry, there is no shortage of coal as well. All over ...

The Dollar Business Bureau    India’s coal imports fell by 4.56% during the first seven months of current fiscal, first time in over five years, mainly due to a significant growth in domestic production, a government data said on Wednesday.  Overall coal imports during April-October 2015-16 was 108.36 million tonnes worth Rs.496.76 billion as against 114 million tonnes worth Rs. 579.63 billion during the corresponding period of 2014-15. Total production of raw coal during April-September 2015-16 stood at 275.29 million tonnes, up 4.1% from 264.54 million tonnes during the same period last year. “The increase in coal off-take of 30.44 million tonnes during April-November 2015 is two-and-a-half times more than that of 12.09 million tonnes achieved during same period last year,” ...