India's coal imports have shot up by nearly 50% in the past five months in the face of domestic shortages, forcing Coal India (CIL) to say 'no' to new customers in the current fiscal.
"After accounting for the existing commitments and the quantity to be offered under e-auction, the net coal quantity available to...New consumers would be minus 11 million tonne [this fiscal]," a source quoting CIL Chairman NC Jha said.
Jha had made this observation at a recent meeting chaired by Coal Minister Sriprakash Jaiswal to review the coal distribution policy.
Coal imports between January and May went up by nearly 50% to 44.7 million tonne, according to data compiled by industry portal 'mjunction Services'. Imports were 30 million tonne in the same period last year.
In his presentation before the meeting, also attended by senior officials of steel and power ministries, Jha had painted a dismal long-term outlook.
"If all the LoAs (Letter of Assurances) which have been issued fructify, the negative coal balance would range from minus 157 million tonne to a level of minus 254 million tonne during 2020-21," he had said.
Demand supply gap for CIL would be 137 million tonne in this fiscal against 69 million tonne in 2010-11.
The coal firms, including CIL, had been unable to achieve their planned production targets due to various constraints like delay in obtaining environmental and forestry clearances, land acquisition and local law and order problems.
