News that doesn't receive the necessary attention.

Tuesday, April 7, 2015

India plans to double coal production by 2020-Nikkei Asian Review

4/3/15, "Modi looks to double coal production by 2020," asia.nikkei.com, Rosemary Marandi and Kiran Sharma, New Delhi

"Prime Minister Narendra Modi's government aims to double Indian coal production to 1.5 billion tons by 2020. India needs more fuel to meet rapidly growing demand for electricity.

The Coal Ministry plans to auction 204 coal blocks that the Supreme Court canceled last year. These blocks have the potential to produce 800 million to 900 million tons of coal and generate revenue of about 7 trillion rupees ($121 billion).

    Coal Secretary Anil Swarup is leading the auctions, which started in January. "In the first two rounds, 67 out of the 204 coal blocks have been dealt with."

     The 67 blocks are expected to generate about 3.35 trillion rupees in revenue for state governments over the next 30 years. "Besides, there will be 690 billion rupees worth of reverse benefits in the form of [electricity] tariffs," Swarup told the Nikkei Asian Review.

     "So far, we have had two rounds of bidding and one round of allotment," he said. "The third round will commence in the third week of April for another 16 blocks." In the previous rounds, he added, 38 blocks were allocated to state-run companies, including energy enterprise NTPC and the Steel Authority of India."...via Hockey Schtick





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