Coal supplies to power sector up 12 per cent in April-October 2012-13

Coal supplies to power sector, the largest coal consuming sector in the country, rose 12 per cent to 170.17 million tonnes during the period 1 April to 15 October 2012, compared to 151.86 million tones during the comparable period of the previous year, a 12 per cent growth year-on-year.

This is against Coal India's set target of an 11.2 per cent growth for the financial year 2012-13, which shows that it is on the right track to achieve targeted growth for the current year, minister for coal Sriprakash Jaisawal said today.

Coal offtake also recorded significant growth during the last two quarters with increased availability of railway rakes, he said. Coal offtake during the period from 1 April to 15 October 2012 rose 8.7 per cent to 233.6 million tonnes, compared to the same period of 2011-12. CIL needs to grow at the rate of 8.5 per cent this year in terms of its offtake target, the minister pointed out.

Coal India produced 208.3 million tonnes of coal between 1 April and 15 October 2012, against a target to produce 464 million tonnes of coal in 2012-13, thereby also recording a growth of 9 per cent compared to comparable period of the previous fiscal (2011-12).

CIL, he said, is ready to sign fuel supply agreements (FSAs) with 80 per cent trigger level. This would comprise 15 per cent imported coal on cost plus model for this year.

The 15 per cent of coal, which will be sourced from imports, would be supplied on cost plus basis only on confirmed commitments from the consumers, he said.