NOVEMBER 20238TOP STORIESSOUTH EASTERN COALFIELDS LTD ACHIEVES 100 MILLION TONNE COAL DISPATCHCoal India subsidiary, South Eastern Coalfields Ltd (SECL) has achieved the 100 million tonnes mark in coal dispatch for FY 2023-24 which represents a 17.65% jump over the corresponding figure for the same period of the previous year.This is the fastest 100 MT coal dispatch achieved by Chhattisgarh-based company since its inception, according to an official statement issued. The total coal dispatch, more than 80 percent went to the power sector as the company dispatched around 81 million tonnes of coal to power plants across the country.SECL mega projects Gevra, Dipka, and Kusmunda located in Korba district have contributed significantly to the total dispatch of 100 million tonnes of coal. Gevra, the largest coal mine in the country has contributed 30.3 MT while Dipka and Kusmunda contributed 19.1 MT and 25.1 MT of coal respectively. The total share of all three mega projects in the total dispatch has been more than 74 percent.SECL's Korea Rewa coalfield, where most of the old and underground mines are located, also made notable contribution by enhancing coal dispatch by 20% as compared to last year. SECL is one of the largest coal producing subsidiaries of Coal India. The company produced 167 MT of coal (highest in its history) and accounted for around one-fourth of CIL's total coal production in FY 22-23. This year the company has a target of 197 MT of coal production. PETRONET LNG Q2 NET PROFIT INCREASED BY 9 PERCENT, TO INVEST RS 20,685 CR IN PETCHEM PLANTThe largest liquefied natural gas importer in India, Petronet LNG Ltd., announced a 9% increase in consolidated net profit for the September quarter on the back of higher margins. In July through September, it reported a consolidated net profit of Rs 855.74 crore, or Rs 5.70 per share, as opposed to Rs 785.73 crore, or Rs 5.24 per share, earned during the same period last year, as per a company's stock exchange filing. Reduced petrol prices caused a 21.6 percent decline in revenue to Rs 12,532.57 crore. In the current fiscal year's second quarter, the margin increased to 9.7 percent.Petronet, its board of directors has approved a Rs 20,685 crore investment to establish a petrochemical factory in Gujarat's Dahej. The petrochemical plant, which will be built next to the company's largest LNG import terminal in India, will have a 500,000 tonne annual poly-propylene plant and a 750,000 tonne annual propane dehydrogenation plant (PDH). "The project would bring revenue generation from the sale of poly-propylene, propylene, propane, hydrogen and ethane", it said.Petronet plans to develop 25 hectares of green belt area in the region. "Besides significantly improving the top line and the bottom line of the company, the project aims to enhance the self-efficiency of the country in the field of petrochemicals", it added.The board of directors also approved the binding term sheet to be executed with Deepak Phenolics Limited (DPL) for the 15-year offtake of 11,000 tonnes of hydrogen and 250,000 tonnes of propylene from the Petronet Petrochemical Project at Dahej.
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