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Coal India aims to be commercially viable: Chairman

Coal India Chairman Pramod Agrawal has said that the company envisions to be a commercially viable company.

The Chairman's statement in the company's Annual Report said that the public sector unit'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," Agrawal added.

On the future of coal-based energy, he was of the view that as coal is India's irreplaceable prime energy source, notwithstanding the projections over renewables displacing coal, it will continue to dominate India's electricity generation for a few more decades.

"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 per cent of the country's primary commercial energy.

He said that Coal India is committed to increase its production and supplies to the mandated required levels.

"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 Chairman said..