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India to be self-sufficient in thermal coal production by FY25: Coal minister

India to be self-sufficient in thermal coal production by FY25: Coal minister

According to the minister, for the first time in the country's history, such a large number of coal blocks are being auctioned.

According to the minister, for the first time in the country's history, such a large number of coal blocks are being auctioned. According to the minister, for the first time in the country's history, such a large number of coal blocks are being auctioned.

Union coal minister Pralhad Joshi on Wednesday exuded confidence that the country would be largely self-sufficient in thermal coal production by the financial year 2024-25.

"We will be largely self-sufficient in thermal coal production by 2024-25 and the country will not face any problem in the thermal energy sector," Joshi said while interacting with the media during the investors' conclave on 'opportunities in the coal sector'.

He said that in the sixth phase, commercial auction is being conducted for 141 coal mines across the country, including 28 blocks of Madhya Pradesh.

According to the minister, for the first time in the country's history, such a large number of coal blocks are being auctioned.

He said that the government is expected to get a revenue of Rs 25,000 crore from this auction, while two lakh people will get employment after the start of production.

Joshi appealed to the investors to actively participate in the coal mine auction.

"We have made mine allocation rules and regulations more liberal and transparent for investors to boost coal production in the country," he said.

Asked about the alleged "artificial crisis" of coal shortage in the country during summer season when the government had directed all thermal power producers to import coal to fulfil their fuel requirement, the minister said: "We had taken precautionary measures in view of sudden increase in demand for coal amid waterlogging in coal mines and rain-related transportation constraints.

"We had said that all necessary arrangements should be made for adequate availability of coal in the country and some part of it should be imported."

The minister added that these instructions were only for one-and-a-half months and later withdrawn when the government was convinced of meeting the coal demand from domestic reserves.
 

Published on: Nov 09, 2022, 9:34 PM IST
Posted by: Tarab Zaidi, Nov 09, 2022, 9:32 PM IST