The proposed incentives are in an advanced stage of discussions and are expected to be announced soon, Coal Secretary Vikram Dev Dutt said at a roadshow for commercial coal mine auctions in the city.
The plan for setting up the coal exchange was discussed in a recent meeting, Reddy said
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Dutt, Director General of the Directorate General of Civil Aviation (DGCA), as secretary, Ministry of Coal, according to a Personnel Ministry order.
The company's lignite output was 50.54 LT in the year-ago period
As Reddy took charge of the coal and the mines ministries on June 13, he acknowledged the work done under Pralhad Joshi, the former coal minister.
As the backbone of India's energy and industrial framework, the sector is focused on increasing domestic coal production, reducing reliance on imports, and adopting sustainable mining practices.
The company also informed that Executive Director (L&R) Sanjay Khare has bid farewell to his role upon reaching the age of superannuation, effective from May 31, 2024.
With regards to TPP end stock, 45 MT of coal was available as on May 15, which is 29 percent higher compared to stock of 34.83 MT as on corresponding date of last year. The major coal producing PSU Coal India Limited has pithead stock of 85 MT which is 30 percent higher compared to last year, according to official data.
For the financial year ending March 31, the Power Ministry had placed a requirement of 821 million tonnes, Joshi told PTI on the sidelines of the release of 'PM Gati Shakti National Master Plan in Coal Sector' booklet.
The production will be further enhanced to 225.69 MT in FY26, the coal ministry said in a statement.
During a high level meeting to review the status of 'producing and expected to produce' captive and commercial coal mines, Additional Secretary at the ministry M Nagaraju also urged the allottees to put in further efforts to achieve the committed coal output target for the current fiscal, an official statement said.
The government has also taken steps towards environmental stewardship with its sustained reclamation and afforestation initiative, aiming to minimize the ecological footprints of coal mining.
The production plan calls for the opening of new mines, the increase of mine capacity, and the output of commercial and captive mines.
The coal ministry is taking various measures to meet the demand for dry fuel and has auctioned 91 coal mines for commercial use in the last four years, the coal additional secretary said.
A total of 1,08,469 physical files have been reviewed so far, and 8,088 old files have been weeded out, it said.
The cumulative coal production up to September increased to 428.25 MT in the ongoing fiscal, over 382.16 MT in the year-ago period, registering a growth of 12.06 per cent, the coal ministry statement said.
The ministry said it is coordinating with central and state power generation companies (Gencos), ensuring a seamless supply of coal to the power sector without any shortages.
This round of auction was started by the ministry for 103 mines on March 29, 2023. The last date for submission of bids was June 27.
The Gevra coal mine beat Indonesia's Sangatta coal mine to be Asia largest mine in FY 23 itself. Beyond the 70MT expansion plan, SECL wants to hit 100MT coal production from Gevra as its notified reserve is 900MT.
The coal mines are expected to generate an annual revenue of Rs 9,831 crore and capital investment of Rs 7,929 crore, an official release noted.
India will continue to expand its coal production capacity by opening new mines and enhancing the existing ones, Amrit Lal Meena, coal secretary, said.
The govt will reimburse GST on cost of coal, offer 10% capital subsidy on setting up coal gasification plants, and assure coal supply at a notified price for 15 years.
At a review meeting chaired by M Nagaraju, Additional Secretary, to assess the progress of FMC projects of coal companies, the ministry reviewed 67 FMC projects — Coal India (59), SCCL (5) and NLCIL (3) — with a capacity to load 885 MT coal per annum.
The country's coal output was at 681.5 MT in the year-ago period, as per provisional figures of the coal ministry.
The state-owned coal miner is tracking a total of 15 greenfield projects for implementation through MDOs with an investment of around Rs.20,600 crores largely for land acquisition, rehabilitation and resettlement issues, and also railway sidings, in some cases.