Coal India's foreign dreams lose steam in bid to fuel domestic demand
With Coal India now prioritising availability of thermal coal to the power plants by streamlining both its road and rail supply network, its plans of acquiring a 20-25 per cent stake in an Australian firm which could have ensured steady procurement of coking coal, has been put on the backburner.Apart from prioritising steady production across its mines, the company is now closely coordinating with Railways to make 288 rakes available each day for supply of the black diamond to the power plants - an exercise which is the top priority now. Towards the end of the last year, resulting from dearth of railway rake availability, coal stocks with the power plants hit rock bottom spiralling the energy sector into a crisis. Thenceforward, Coal India had to step up despatches on a war footing.An official told Business Standard that coordination with the railways for steady despatches to the power sector would ensure that instance doesn't repeat in the future. It has now drawn up a mine-wise...17-02-2018