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.
Union Minister for Petroleum, Natural Gas and Steel Dharmendra Pradhan has said that the government aims to make Chhattisgarh a steel hub of the country. Mr Pradhan said that the steel industry has an important role to play in making India a five trillion dollar economy.
Coal India Ltd (CIL‘s) coal supply to the power sector registered a decline of 6.8% to 377.86 million tonnes (MT) in the April-January period of the ongoing fiscal against 405.61 MT despatch in the year-ago period, according to official data.
However, the coal despatch by CIL to the power sector in January registered an increase of 2.9% to 43.20 MT, over 42 MT in the corresponding month of the previous fiscal, it said.