Modi’s Power Pledge Set to Lift Coal Imports to Record
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India’s thermal coal imports may touch a record this year as a faltering monsoon hampers hydro-power generation and pushes steam-driven power plants to replenish stockpiles.
Overseas purchases are estimated to increase to about 145 million metric tons this year from 135 million tons the previous year as prices hover around a five-year low, said Andrew Cosgrove, a Princeton-based analyst at Bloomberg Industries. Mjunction Services Ltd., which auctions the commodity, estimates imports at 152 million tons.