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Coal India has been asked to diversify its interests to areas like electric vehicles and charging stations by the ministry of coal, according to a document titled Ministry of Coal’s agenda for 2021-22, Reuters reported on Monday. This comes on the back of Indian utilities scrambling to secure coal supplies, with inventories taking a huge plunge, after a surge in power demand from industries and sluggish imports owing to the record global prices pushing power plants to the brink.
The company is known for being the world’s largest in coal production and accounts for over 80% of the country’s output for fuel. India has the fourth-largest reserves for coal and also the second-largest importer, consumer and producer of coal. The country imports mainly from Indonesia, Australia and South Africa.
The miner controlled by the central government already has plans in place to invest in solar water manufacturing, power generation, coal gasification and extraction of coal bed methane and setting up aluminum smelters.
Robust media campaign needed in the coal sector
India had also asked the miner to consider participating in foreign tenders who are seeking coal after meeting domestic demand.
The document read that, Traders, coal consumers of neighbouring countries can also take part in the spot and special spot e-auction windows of Coal India.
The ministry further added that a robust media campaign was needed for perception management in the coal sector and also added that plans submitted by Coal India and its units were being finalized.