Coal stocks at pitheads of Coal India touch 100 million tonnes

Coal stocks at the pitheads of Coal India have touched 100 million tonnes (mt) amid sluggish lifting by the power sector. Power plants procured 444.5mt in 2020-21 against the projected demand of 526mt.

Coal India produced 596.2 mt in 2020-21 against 602.1mt a year ago. Officials of the government-owned miner said a higher production would only have added to the stockpile.

The public sector miner has a plan to liquidate the stock in the ongoing fiscal.

Coal India is banking on a revival in the demand from power companies. It is also expecting higher sales in the auctions and a greater substitution of imported coal.