India’s total coal production during April-October 2022, stands at 448 million tonnes, registering an 18 per cent jump as compared to the same period last year, the Ministry of Coal reported on Thursday. The jump in production is in line with the efforts of the Ministry to enhance coal stock, as well as increase efficiency of the transportation of coal. Coal India Limited (CIL) also reported a 17 per cent on-year increase in production. Based on the set course, the coal ministry is eyeing 45 crore tonnes of stock with the Thermal Power Plants (TPP) by the end of the current fiscal year.
Stock building a priority
“The Ministry of Coal is planning to build stock at domestic coal-based plants to the tune of 30 million tonnes by the end of November, 2022. It has plans to keep building the stock so that by the end of 31st March, 2023, Thermal Power Plants (TPP) stock will go up to 45 million tonnes,” the ministry said in a statement. The first seven months of 2022 saw a 9 per cent growth in the average rakes per day availability, which is acting as oil to the mechanism of transporting higher quantities of coal to the myriad power plants in the country.
Promotion of sea routes for transportation of coal
To aid the process of making transportation of coal more robust, the coal ministry is working in unison with the Ministry of Power, Railways, and Ministry of Ports, Shipping and Waterways, it said. In addition, the ministry is also working to promote the usage of sea routes for the transportation of coal. The power plants on the eastern coast are getting fuelled through coal coming through the rail-sea-rail routes. The power plants in the western coast and the northern coast will get coal from the mines in the eastern parts of the country through the rail-sea-rail routes earliest by next year, the Ministry of Coal stated.
Coal India Limited, the state-run enterprise, on November 7, 2022, reported a consolidated net profit of Rs 6,043.55 crore in Q2FY23, witnessing a 106 per cent on-year increase. On Thursday, Coal India shares were down 1.21 per cent and were trading at Rs 227.80.