State-owned Coal India has identified 126 projects with an estimated capacity of 438.04 MTs to be taken up during 12th Plan period.
"Of these 60 are envisaged to contribute about 88MT during the terminal year of the 12th Five Year Plan(2016-17)," CIL chairman and managing director S Narsing Rao said in his speech during company's annual general meeting(AGM) today.
"Of the 126 projects, project reports for 78 have already been formulated, " he added.
CIL has already sanctioned Rs 2294.79 crores for four projects with an estimated capacity of 12.5 MTs.
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CIL has proposed a capital outlay of Rs 25,400 crores in the 12th plan period in addition to an ad-hoc provision of Rs 35,000 crores to acquire coall assets abroad and develop the acquired coal blocks in Mozambique.
"We wre very much eqipped and I can assure, we will be fully ready to meet the FSA commitment. There will no ocassion, where we will have to pay penalty," Rao noted during his response to shareholders at the AGM, which was interrupted for an hours as some shareholders alleged they were denied attendance slips and gift coupons.Rao, however, "regretted" for the chaos.
Meanwhile, Coal India's first tender for coal import is likely to be for about 15 MTs. Speaking on the sidelines of the AGM, CIL director(marketing) B K Saxena said, "We are in discussion with power plants and so far our understanding is that import should be for about 15 MTs. About 55 to 60 power plants have indicated that they want imported coal from us. This include DVC, some state power generation company among others."
However, saxena categorically said, NTPC is not among those, who have given requistion for imported coal.
According to Saxena, the pre-bid meeting with government-owned trading firms like MMTC and State Trading Corporation, through which import shipments would be channelised, has already taken place. "The tender wil be floated once the board formally approve the same," he said. However, he copuld not give the date when the board would take up the matter.
"The tender would be floated this year, but the imported coal may actually come in the next year only," he noted.
CIL has signed about 140 FSAs committing 80 per assured supply od coal to power stations with a total capacity of about 60,000 MW. Coal India can supply 65% of the requirement from domestic production and another 15% through import. According to CIL, few FSAs are yet to be signed due to some plant specific issues. The company has to sign total 173 FSAs for a capacity of 78,000 MW. Centre had issued a Presidential directive to CIL last year to sign FSAs with the power producers assuring at least 80% fuel supply.
As far as domestic production is concerned, between April and July, CIL produced 135.64 MT of coal against a target of 140.32 MT during the period. The offtake stood at 153.47 MT against the target of 156.86 MT.