Feedback | Thursday, April 18, 2024

21/12/23 | 3:09 pm

India aims to reduce coal import for power sector to 2% by 2025, says Union Minister Pralhad Joshi

Union Minister of Coal, Mines, and Parliamentary Affairs, Pralhad Joshi, said on Wednesday that India’s coal import for the power sector is projected to decrease to 2% by 2025, owing to a significant rise in domestic coal production. Joshi indicated that the overall coal production this year is expected to surpass one billion tonnes.

Emphasizing the coal sector’s continuous contribution to the nation’s energy security and economic growth, Joshi highlighted India’s sustainable coal mining practices, positioning the country as a global leader in emissions containment. He pointed out that 6000 crore rupees have been given as incentive for coal gasification and mentioned that coal public sector undertakings (PSUs) have planted 100 million saplings in recent years to promote sustainable mining.

As part of the 9th round of commercial coal mine auctions, a total of 31 coal mines, including 26 from the 9th round and 5 from the 2nd attempt of the 7th round, are being offered. These mines are located in coal/lignite-bearing states like Jharkhand, Chhattisgarh, Madhya Pradesh, and Telangana.

India, with a total coal reserve of 344.02 billion tonnes, ranks as the second-largest coal producer globally. Given that 72% of electricity in India is generated from coal, the coal sector plays a crucial role in the nation’s development. The ongoing commercial coal mining efforts are anticipated to attract new investments, creating both direct and indirect employment opportunities. The revenue generated from these auctions will be allocated to coal-bearing state governments, benefiting states such as Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Telangana, Arunachal Pradesh, Bihar, and Assam.

The estimated annual revenue from the auctioned mines is around 33,343 crore rupees, considering production at an aggregated Peak Rate Capacity level of 220.90 MTPA. Once fully operational, these mines are expected to directly and indirectly employ approximately three lakh individuals, with a total investment of over 30,000 crore rupees to operationalize them.

Copyright © 2024 DD News. All rights reserved
Visitors: 763620
Last Updated: 18th Apr 2024