India’s federal government will encourage inefficient state power utilities to seek privatisation and other institutional reforms to turn around money-losing operations and ensure reliable supplies to consumers, according to the top bureaucrat in the federal power ministry.
India has been increasingly advocating privatisation of ailing distribution companies as government efforts since 2015 to revive the utilities failed to turn around the firms, known as DISCOMS.
Steel and petroleum minister Mr Dharmendra Pradhan said that there are business and policy-level interactions for long-term engagement with the US for sourcing coking coal, since India is planning to raise domestic steel output from the current level of 140 million tonne to 300 million tonnes by 2030 and the requirement of coking coal is likely to rise 190% to 175 million tonnes.
Indian Transport & Logistics News, , February 24, 2020
The senior officials of the Railway Board and the Dedicated Freight Corridor Corporation of India (DFCCIL) noted that the on-going projects of eastern and western freight corridors to consume 17 metric tonnes of steel in next five years.
The domestic demand for steel will get support from infrastructure that will be developed to achieve the $5-trillion economy target, according to Minister for Steel, Dharmendra Pradhan.
Pradhan said the various policy reforms and Government initiatives like Pradhan Mantri Awas Yojana, Har Ghar Jal Yojana, construction in railways and roads, creation of a gas-based economy and creation of new agri-storage facilities are set to drive steel demand.
The Singareni Collieries Company Ltd has set a coal production target of 67.5 million tonnes and firmed up capital expenditure of ₹3,000 crore for 2020-21.
N Sridhar, Chairman and Managing Director of the state-owned mining company, sanctioned ₹3,000 crore of investments for the next financial year during 552nd board of directors meeting at Singareni Bhavan.