Earlier today, the Coal Ministry said the estimated coal output for the current fiscal is 584 million tonne versus demand of 776 million tonne. Due to this shortfall, companies like NTPC have had to scale back expansions plans and cut capacities.
Chairman and managing director of NTPC Arup Roy Choudhury today said that they plan to cut capacities to 14,000 megawatt by 2017 due to the shortage of coal. “As of now, the coal linkages that we have will allow us to add capacity of about 14,000-14500 MW, when we would have loved to do something like 25,000 MW,” said Choudhury. Addressing reporters today, Choudhury also said he will be unable to put to action details of the 12 Plan until an indication of how much coal is available is given to them. “So my requirement from the Coal Ministry is to give me more coal,” he said. Choudhury expects to receive a formal re-allocation notice for three coal blocks from the Coal Ministry soon. Watch the accompanying videos for more details..Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
