Coal India Says Falling Imports, Price Rise Pose Challenges

Maharatna company Coal India Limited (CIL) has said that the second half of the current financial year has been tough for the sector due to falling imports and global prices of dry fuel witnessing a three-time rise.

Beside these reasons, the prolonged monsoon in the coal-bearing areas made the situation more challenging, CIL said in a statement.

Despite the challenges, the company due to "meticulous planning" rose to the occasion and fulfilled the demand of additional coal for thermal power plants, the statement added.

CIL supplied around 20 million tonnes of additional coal due to curtailed import of dry fuel.

The company accounts for over 80 per cent of domestic coal output and is eyeing one billion tonnes of coal production by 2023-24.