Monday, August 8, 2022

Coal India to be a commercially viable company: Chairman tells shareholders

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  • The CIL Chairman said that the public sector company’s vision is to ensure that there is no shortage of coal in the country and to make the country self-reliant in coal

  • He also said that he was of the view that coal is India’s irreplaceable prime energy source and will exist along with renewable sources of energy

New Delhi: Coal India Limited (CIL) Chairman Pramod Agrawal has said that the state-run miner aims to be a commercially viable company. Addressing the company’s shareholders in the annual report, Agrawal said that the public sector company’s vision is to ensure that there is no shortage of coal in the country and to make the country self-reliant in coal. “Coal India envisions to be a commercially viable company and endeavours to move ahead as a contemporary, professional, consumer-friendly and successful corporate entity committed to national developmental goals,” he said.

“The vision also extends to dedicate itself to the service of the countrymen in providing the primary commercial energy in an affordable and environmentally friendly manner. Your company aims to be not only a valued company but a company with values,” the Coal India Chairman added.

Coal is India’s irreplaceable prime energy source: Coal India Chairman

Commenting on the future of thermal power in India, Agrawal said that he was of the view that coal is India’s irreplaceable prime energy source and will exist along with renewable sources of energy. He added that notwithstanding the projections over renewables displacing coal, it will continue to dominate India’s electricity generation for few more decades and will also power up non-power sectors.

Also read: Coal India to pay ex-gratia of Rs 15 lakh to next of kin of staff who die of Coronavirus

“Additionally, coal will continue to stoke up many non-power industries as well viz cement, fertilizers, sponge iron, aluminium and a host of other industries. In India, coal accounts for around 55 percent of the country’s primary commercial energy,” he said.

“Renewables and coal have to co-exist for some time before renewable can significantly contribute to a larger share of India's energy basket. At some point of time in future this is bound to happen but till such time coal remains the dominant energy source in the country,” the Coal India Chairman said.

Agrawal also added that the company is committed to increasing its production and supplies to the mandated required levels.

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