Indian gov. may run coal sales to state groups

IRJ – November 9 – India’s coal secretary says that the government is open to possibly selling its stake in state-run vehicles to centrally owned groups Coal India Ltd. and Neyveli Lignite Corp. as part of its aims to divest and hit target.

Speaking about the matter on Wednesday, Coal Secretary Alok Perti also stipulated that a future transaction of this nature would be dependent on commercial viability, and his department will imminently inform the finance ministry about funds and options for purchase on the table.

According to the nation’s Planning Commission, widely quoted in press, India is on track to import approximately 200 million tonnes-plus of costly coal product to 2017, and through 2011-2012 imports are already expected to hit 142 million tonnes. Domestically, the Geological Survey of India has stated that the country's total coal resources stand at around 267 billion tonnes, with proven commercially extractable reserves at around 60 billion tonnes.

http://twitter.com/IRJmagazine