State-run Coal India is aiming at substituting imported dry fuel of 80-85 million tonne with more domestic supplies in the current fiscal, an official said on Thursday. The miner has asked power plants in the coastal areas to submit proposals for a gradual increase of its supplies to these units to reduce foreign exchange outgo, the Coal India official said.

Share Market Live

NSE

”We are expecting to substitute 80-85 million tonne of imported coal this year and have asked the coastal power plants to submit proposals to us and the Railways for domestic supplies,” Coal India director marketing S N Tiwari said at an event organised by mjunction. The country had imported 248 million tonne of coal in 2019-20, resulting in an outflow of around Rs 1 lakh crore of foreign exchange, the official said.

The government will consider offering concessions on various counts such as quality and freight to make domestic coal attractive over the imported fuel, Tiwari said.