Falling coal imports and rising prices have hit the sector hard in the current financial year.
new Delhi:
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 fall in imports and three-fold rise in global dry fuel prices.
Apart from these reasons, prolonged monsoon in coal-based areas has made the situation more challenging, CIL said in a statement.
Despite the challenges, the company rose to the occasion due to “careful planning” and meeting the demand for additional coal for thermal power plants, the statement said.
CIL supplied about 20 million tonnes of additional coal due to reduction in dry fuel imports.
The company contributes more than 80 per cent of the domestic coal production and is eyeing to produce one billion tonnes of coal by 2023-24.
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