KOLKATA: Coal India BSE 0.00 % intends to export coal and is in talks with power companies in Bangladesh for striking supply deals. This is the first time Coal India will be exporting the fossil fuel on a commercial basis.
Coal India subsidiaries, Bharat Coking Coal and North Eastern Coalfields, plan to supply coal to Bangladesh power companies. It is likely to be transported to Haldia port in West Bengal from where it could be forwarded through sea route to ports in Bangladesh.
“CIL’s coal is likely to be cheaper than the ones supplied from Indonesia because we would save on logistics.The coal produced by these two subsidiaries are of high quality that can compete with Indonesian coal,” a Coal India official said.
At present, power companies in the country are full-to-brim with 22 days of fossil fuel stocked and are going slow on fresh procurement. Having grown at around 10% last year, Coal India is saddled with some 55 million tonnes of pit head stocks.
