Public sector company Coal India Limited (Coal India Limited) is ready to meet the coal demand of the power sector amidst the early arrival of summer in the country and a surge in the demand for electricity in the industrial sector. The company has informed about this on Tuesday.
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The coal producer company has expressed hope of supplying 156 million tonnes of coal to the power sector in the April-June quarter of the financial year 2023-24. This would be 25.6 per cent of the revised annual supply target of 610 million tonnes for the sector in 2023-24. Coal India said, “The company expects to supply 156 million tonnes of coal in the April-June quarter of the next financial year amid increasing demand for coal.”
Let us tell you that Coal India Limited contributes 80 percent to the domestic coal production. Along with this, it is the main supplier of coal in power generation plants.
Coal India’s face-to-face reserves are expected to touch 68 million tonnes by the end of the current financial year, up from 57.3 million tonnes as on Monday. With this, the company is on track to take its production to 700 million tonnes by the end of FY 2022-23 while maintaining the pace of production.