AUGUST 20248NTPC NPCIL TO FUND RS 50,400 CR IN 2,800 MW NUCLEAR POWER PLANTCOAL SECTOR LEADS WITH 14.8 PERCENT GROWTH IN JUNE 2024NTPC Ltd and Nuclear Power Corporation of India to jointly invest approximately Rs 50,400 crore for the development of the 2,800 MW Mahi-Banswara nuclear power plant. The Cabinet is expected to approve The coal sector showed the most significant increase of 14.8 percent in June 2024, as per the Index of Eight Core Industries released by the Ministry of the proposal to transfer the nuclear units to Anushakti Vidhyut Nigam Ltd, a joint venture with NPCIL, this month.The person mentioned that the company will no longer participate in the 1,400 MW Chutka Madhya Pradesh Atomic Power Project, which was supposed to be a collaboration with NPCIL. The Mahi-Banswara project would serve as a stepping stone for the power major to advance its nuclear energy plans independently, according to the individual.The company is planning to list its environmental division in November with aims to dilute its stake by 10 percent, as per the source. NGEL is expected to have 4,000 MW installed in November, with another 8,000 MW being built and an additional 8,000 MW in different development stages.NGEL will support the ambitious clean energy initiatives of India's biggest power producer. The company plans to establish subsidiaries and form joint ventures to execute the projects.The power generator's branch will lead the way in achieving the goal of increasing renewable energy capacity by 60 GW by 2032. It also aims to advance projects for pumped hydro storage and the production of green hydrogen and ammonia. Commerce and Industries. The coal industry's index rose to 186.4 points in June'24 from 162.4 points in the same period last year, marking a cumulative increase of 10.8 percent between April and June in FY25 compared to the previous year.The Index of Core Industries (ICI) evaluates the production performance of eight core industries - cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel, both collectively and individually.In June 2024, the Combined Index of Eight Core Industries saw a significant 4.0 percent growth compared to the previous year, highlighting the coal industry's substantial role in driving overall industrial growth.The coal industry has consistently exceeded the performance of other industries, showing significantly higher growth compared to the overall growth of eight core industries in the past two years.The impressive increase in coal production during June 2024, leading to a remarkable growth, reached 84.71 million tonnes, a 14.6 percent rise from the previous year. This increase in output demonstrates the industry's ability to fulfil the increasing energy and manufacturing sectors' needs. TOP STORIES
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