Coal sector faces challenging H2 as imports fall, global prices spike: CIL

NEW DELHI, Feb 18:  State-owned CIL on Friday said the second half of the current fiscal year has remained tough for the country’s coal sector with decrease in coal imports and tripling of international coal prices.

Beside, the prolonged monsoon in the coal-bearing areas made the situation more challenging.

Facing this situation, Coal India Ltd (CIL) with meticulous planning rose to the occasion and fulfilled the demand of additional coal for thermal power plants, the PSU said in a statement.

CIL supplied around 20 million tonne of additional coal due to curtailed import of coal.

The company further said it has been conferred with the ‘Most Dependable Public Sector in India’ award.

The award comes at a time when CIL has risen to the occasion and kept the country out of any power outage in the wake of unprecedented coal demand, witnessed by the country in the recent past, the statement said.

CIL accounts for over 80 per cent of domestic coal output. The PSU is eyeing one billion tonne of coal production by 2023-24. (PTI)