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Indian Power Plants Rushing to Finalize Import Deals
Nov. 07, 2014 08:59AM PST
Industrial Metals InvestingPower companies in India are rushing to finalize import deals on the back of lower global coal prices, according to DNA India. Though low costs are making imports seem attractive, the rush has also been triggered by critically low coal supplies at many power plants in the country.
Power companies in India are rushing to finalize import deals on the back of lower global coal prices, according to DNA India. Though low costs are making imports seem attractive, the rush has also been triggered by critically low coal supplies at many power plants in the country.
According to the publication:
NTPC is current finalising import contracts for 5 million tonne of coal for its power plants in Talcher, Kaniha, Farakka, Kahalgaon, Badarpur, Simhadri, Ramgundam, Dadri, Unchahar, Sipat, Korba, Mouda, Rihand and Vindhyachal.
MP Power Generating Co, at the same time is firming up shipment of 7 lakh tonne including 2 lakh tonne each for units in Sarni, Khandwa, Chachai and 1 lakh tonne for Birsinghpur.
Interestingly, the sudden spurt in demand comes at a time when domestic availability is going up.
Coal India, after a long gap, was able to surpass its monthly target, producing 40.20 million tonne in October, beating its target of 39.74 mt for the month. It, however, missed its target of 259.85 mt for the first seven months of the current fiscal, producing 250.96 mt.
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