APRIL 20238Coal India (CIL) increased its production of coking coal by 17.2 percent y-o-y to 54.6 million tonnes (MT) in 2022­23. The state-owned miner reported in a statement that during the previous 2021­2022 fiscal year, it produced 46.6 MT of coking coal. There was a massive 8 MT quantum leap. This is significant since the Ministry of Coal has ordered CIL to increase this coal's output to 105 MT by 2030 in an effort to decrease imports and foreign exchange outlays.The combined output of subsidiary firms Bharat Coking Coal (BCCL) and Central Coal Fields (CCL) accounted for nearly the entire 54.3 MT in 2022­2023. CCL contributed 20.6 MT to the FY23 production of BCCL, which was close to 33.7 MT. An essential feedstock in the production of steel is coking coal. Because there aren't many mineable reserves in India, and because the quality isn't good enough for direct use in steel production, washing is required.56 MT of coking coal was imported during FY23, which is 1.1 MT less than the 57.1 MT imported during FY22. By 2030, CIL plans to produce 12 MT of washed coking coal with an ash level of 18­19 percent annually. CIL has restored three ancient coal washeries and opened two new ones. Additionally, it intends to add nine additional washeries at a cost of roughly Rs.4,000 crore. At the moment, the company runs 11 washeries for coking coal. ESR Group, a prominent provider of real estate services and investments with a focus on Asia Pacific, intends to invest more than 400 crore to build a one million square foot warehouse and logistics park in Gujarat's Sanand. The project aims to capitalise on demand being seen among suppliers of supplementary goods to electric vehicle (EV) manufacturers. The 38-acre property lot is the second investment in the state for the company, which is listed on the Hong Kong Stock Exchange; the first was a 37-acre project in Jalisana. The new project is anticipated to be finished within the next three years, even though the infrastructure for the original project is ready. "Gujarat draws some of the highest levels of foreign direct investment into India and is currently developing into a hub for the manufacturing and assembling of EV batteries. For the region to grow industrially and increase its capability to produce electric vehicles, grade an infrastructure must be available in a key place like Sanand", according to Abhijit Malkani, CEO of ESR India. The goal of the initiative is to provide a concentrated area where established and new EV manufactures and support businesses may grow and gain access to Ahmedabad's growing ecosystem. The proposed project also has access to Kandla port, India's largest container port, and is well connected with Mundra, Dahej, Jafrabad, Pipavav, and Hazira ports, making it easier to import and export components. Additionally, it has access to the national and state highway networks as well as the international airports of Vadodara and Ahmedabad. Future infrastructure projects like the Western Dedicated Freight Corridor (DFC) and the Delhi-Mumbai Industrial Corridor (DMIC) would improve connectivity in Sanand and lower logistics costs. The new project is situated close to Sanand Gujarat Industrial Development Corporation (GIDC), a hub for the production of electric vehicles that is currently home to 300 domestic and 25 foreign businesses in a variety of industries, including engineering, plastics, packaging, and electronics. It is anticipated that the new project will draw ecommerce and third-party logistics (3PL) businesses due to its proximity to Ahmedabad's city centre. TOP STORIESGUJARAT'S $400 MILLION LOGISTICS PARK IS BEING PLANNED BY ESR GROUPCIL COKING COAL OUTPUT INCREASED 17 PERCENT TO 56.6 MT IN FY23
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