CIL to set up power plant to use excess coal

CoalOn Tuesday, Coal India Ltd said that it wants to use the excess coal that it has with itself and to be able to do that it plans to start a captive power plant.

The world's largest coal maker has said that it is now trying to set up a tie-up with SAIL and/or Tata Steel for e-commerce and that it plans to have a 50:0 partnership.

Talking to media, CIL Chairman P S Bhattacharyya said that their stockpiles had been increasing and was at 53 million tons.

Besides this, he also said that CIL will be launching its IPO by the second half of October and has already entered into an agreement with NTPC for the power plant.

As of now, its capacity is expected to be 2,000 MW and will be starting in Jharkhand.

The stockpiles, he complained, had been increasing because of lack of requisite number of rail wagons. While the need was for 205-210 wagons, it was getting only 170 wagons every day.

During the last fiscal, it was able to meet all the requirement of coal of the coal-intensive industries by producing 431.5 million tons.