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.
Deccan Cements has firmed up plans to expand cement capacity at its plant located at Mahankaligudem village in Nalgonda district of Telangana.
The capacity will be augmented from 1.8 million tpa to four million tpa by installation of new unit (Unit-III).
The plant will also include expansion of clinker capacity from 1.7 million tpa to 3.2 million tpa and waste heat recovery power plant capacity from 18 MW to 33 MW.
The work on the project is expected to commence by September 2020. The completion date is scheduled for mid-2021.
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.
State-owned Coal India Ltd allocated 24.87 million tonnes of dry fuel for the spot electronic auction (e-auction) during April-January, down by 8.19% over 27.09 million tonne (MT) in the same period of last year, according to the government data. For January 2020, the coal allocation for the e-auction scheme declined to 3.62 MT from 4.83 MT in the corresponding month of 2019.
National Council of Applied Economic Research (NCAER) pegged the economic growth for the current fiscal at 4.9%, a tad down from 5% estimated by the National Statistical Office (NSO).
However, for 2020-21, the NCAER expects the Indian economy to improve its growth rate to 5.6%.