Thursday, April 16, 2015

Modi's Coal Turnaround to Ease India's Chronic Power Cuts

Coal India (Credit: Coal India Ltd) Click to Enlarge.
Fewer power cuts are likely in India this summer after a surge in output at Coal India helped generators amass record stocks, a turnaround for Narendra Modi who had to battle a power crisis within months of becoming prime minister last May.

Fast-track mine approvals, tighter production oversight and more flexibility in coal sales have helped power station stocks recover from a six-year low hit in October, vindicating Modi's pitch to voters as the state leader who brought round-the-clock power to industrial Gujarat.

As Modi prepares to mark his first year in office and seeks to fulfill a poll promise to provide power to all of India's 1.2 billion people by 2019, power stations hold 28 million tonnes of coal, a 38 percent jump from a year ago, government data shows....
India, the world's third-largest coal buyer, is expected to cut imports by a fifth in the fiscal year to March 31 from an estimated 200 million tonnes in the previous year.  Power companies have relied on imports for 15 percent of their coal needs.

Read more at Modi's Coal Turnaround to Ease India's Chronic Power Cuts

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