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The coal ministry is expected to seek clearance to establish India's first coal trading market as part of the new government's action plan for the first 100 days.
The plan was supposed to be implemented in the previous fiscal year, but it had been delayed. A coal trading market might help more sellers and buyers trade coal as a commodity and move beyond term connections. "Coal trading will provide a transparent mechanism for captive and commercial auction holders [who won coal blocks in commercial auctions] to sell coal. This will also help in getting better prices for consumers," the official cited earlier said.
Any surplus stock held by state-run Coal India Ltd after completing long-term linkage agreements will likely be traded on the planned exchange. The coal exchange would also enable effective market-based pricing processes, as well as facilitate price discovery and signalling, according to the official. The ministry has taken steps to upgrade mechanised coal transportation and loading systems under 'first-mile connectivity' projects.
According to the official, the ministry also wants to add 600 MW of thermal power installed capacity by NLC India Ltd. Coal gasification projects will also be part of the plan that could be implemented in the given tenure. The ministry plans to bid out about 10 coal gasification projects.
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