Economy

Coal India aims at substituting 80-85 mt of imported fuel in FY21

Updated : December 17, 2020 01:50 PM IST

State-run Coal India is aiming at substituting imported dry fuel of 80-85 million tonne with more domestic supplies in the current fiscal, an official said on Thursday. The miner has asked power plants in the coastal areas to submit proposals for a gradual increase of its supplies to these units to reduce foreign exchange outgo, the Coal India official said.

”We are expecting to substitute 80-85 million tonne of imported coal this year and have asked the coastal power plants to submit proposals to us and the Railways for domestic supplies,” Coal India director marketing S N Tiwari said at an event organised by mjunction. The country had imported 248 million tonne of coal in 2019-20, resulting in an outflow of around Rs 1 lakh crore of foreign exchange, the official said.

The government will consider offering concessions on various counts such as quality and freight to make domestic coal attractive over the imported fuel, Tiwari said.

Coal India aims at substituting 80-85 mt of imported fuel in FY21

You May Also Like

Tata Power Solar wins Rs 1,200 crore order to set up 320 MW project

Audi Q2: Find out whether it’s an ideal entry-level SUV

UltraTech Cement Q3 net profit jumps 122% to Rs 1,584 crore; Domestic volume growth at 14%

Trending on CNBC-TV18

recommended for you