Indian Power Plants Have Only One Week’s Worth of Coal Left, Coal India Not Meeting Demand

Reuters reported today that India, already the worlds third largest coal importer, has said that almost 50 percent of its coal fired power stations only have enough supplies to last a week. Coal India (NSE:COALINDIA) the world’s largest coal producer, has not increased its output quickly enough to keep up with rising demand, according Reuters.

As quoted in the publication:

Coal imports equate to about one percent of India’s economy as state behemoth Coal India, the world’s largest coal miner, has failed to raise output fast enough to meet demand. This leads to frequent blackouts, something new Prime Minister Narendra Modi is keen to fix soon but which will raise coal shipments from countries such as Indonesia, Australia and South Africa. Coal fires more than half if India’s electricity.

Click here to read the full Reuters article.