Coal is going to be expensive, Coal India Chairman Pramod Agarwal said this in Kolkata

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Coal India Chairman Pramod Agarwal has made it clear that coal prices will increase very soon. He said that no nation can develop without securing energy resources. Mr. Aggarwal has said that Coal India Has set a target to increase underground coal mining from 25-30 million tonnes to 100 million tonnes in the next 7 years. He was addressing the Indian Coal Markets Conference organized by mjunction in Kolkata.

Chairman of Coal India has said that coal prices May increase soon. Talks are on with partners in this regard. He also said that by the year 2025-26 Coal India’s mining target- one billion tonnes will be achieved. In the Indian Coal Markets Conference, Mr. Aggarwal said that the price of coal may increase, as this has not happened in the last five years.

Mr. Aggarwal said that wage settlement is also taking place this year, which will have an impact on the financial condition of Coal India. Especially for those subsidiaries, where human labor is very expensive. On the production target of one billion tonnes, he said that Coal India will achieve this target by the year 2025-26. It will depend on the need of the country and the development of the private sector.

He said that no country can develop until its energy resources are not secure. That’s why we should be ready to produce it when needed. If it is no longer needed, the output will be adjusted accordingly.

He also informed that the company is aiming to take underground coal production to 100 million tonnes by the year 2030. Presently it is 25-30 million tonnes. On this occasion, Vinay Verma, MD and CEO of Mjunction Services Limited said that in FY23, 700 million tonnes to 800 million tonnes more coal would be required. This is a tough target.

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