Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
According to official data, Indian Railways shipped 9.3% more coal in May of this year than in the same month previous year, which helped the country's power plants meet the peak demand for electricity during the sweltering summer.
Coal stocks at thermal power plants have been replenished in time, as logistics planning was undertaken in advance for the onset of the summer. The full commissioning of the eastern dedicated freight corridor, which connects the coal mines in Bihar with the power plants in the north has helped to expedite the movement of coal.
The freight volumes for all commodities on the railway network also went up by 3.9% beating the slowdown expected due to the Lok Sabha polls, campaigning for which was in full swing during the month. With this, the national transporter has clocked the 56th straight month of highest-ever freight loading, beginning October 2020.
Coal continued to remain the most carried commodity on the national transporter at 72.01 MT, followed by iron ore at 14.61 MT. Sequentially, there was an 8.4% increase at 139.16 MT of freight loaded in May 2024 compared to 128.3 MT in April, a railway official confirmed.
Indian Railways earned a freight revenue of ₹15,230.9 crore in May, up 8.2% sequentially. In May 2023, the national transporter had earned ₹14,641 crore, a 4% increase in freight revenues. There was also higher passenger movement on account of the ended Lok Sabha elections and the summer rush, for which the Railways is running 10,000 additional trains.
Also Read : Rooftop solar plants to be installed in Delhi & will create 50 MW capacity Indian government panel backs higher carbon tax on coal imports
Australia's key iron ore producers have allied with BlueScope, targeting the reduction of carbon emi...
Asia 09-Feb-2024
Union Railways and IT Minister Ashwini Vaishnaw mentioned that significant work has been made in bui...
Construction 23-Apr-2024
Numaligarh Refinery Limited (NRL) is preparing to integrate green hydrogen generation into its opera...
Mid Corporate 26-Feb-2024
As the world's top global energy trading houses prepare for their biggest annual industry get-togeth...
Asia 26-Feb-2024
ArcelorMittal to cut 600 jobs in France amid European steel crisis. Rising costs, low demand, and i...
Europe 28-Apr-2025
After escalating concerns over China's economic challenges, investment banks are gearing up for furt...
China 09-Feb-2024