By PTI Dec 26, 2020 1:33:44 PM IST (Published)
Coal demand across the world is projected to fall by around five percent this year compared to 2019 while various sectoral challenges are expected to persist in 2021, analysts said.
State-owned Coal India Ltd (CIL) is set to diversify into non-coal mining areas as well as make major investments in clean technology in 2021 after demand for the dry fuel remained muted for most of this year amid the coronavirus pandemic impacting economic activities. Against all odds, including the slump in coal demand, the government opened up the country’s mining sector for private players by auctioning 19 blocks.
Coal demand across the world is projected to fall by around five percent this year compared to 2019 while various sectoral challenges are expected to persist in 2021, analysts said. ”In 2021, we will try to get Coal India Ltd (CIL) to diversify into non-coal mining-related areas. It (CIL) will make major investments in sectors other than coal mining so that it is well prepared to make the transition away from fossil fuel.
”So, it (CIL) will make investments in renewable energy, get into aluminium and clean coal technology and will do a lot,” Coal Secretary Anil Kumar Jain told PTI. In the coming year, Jain said CIL is also likely to go ahead with its agenda of achieving one billion tonnes of production target by 2023-24.