8th Indian Coal Markets Conference September 14-16, 2014, Hyatt Regency, Kolkata, India
India is the Answer to Coal's Prayers
August 29, 2014 (FPRC) -- The 8th Indian Coal Markets Conference is being organised by I H S McCloskey, mjunction and the Coal Consumersís Association of India in Kolkata, India from September 14- 16, 2014
With the Supreme Court of India ruling on Monday that the allocation of more than 200 coal blocks was illegal. There is a lot of uncertainty around what the Supreme Courtís final judgement will be to remedy this situation.
If there is a blanket cancellation of all blocks, these user industries would have to be given around 100 to 150 mt of additional coal linkage from CIL, which in other words means, imports of coal in the short run. This could cost India up to $3 billion in additional coal imports.
With coal prices sliding steadily in the global market, this development is certainly great news for global coal miners and traders and bad news for Indian industry and the economy.
Power developers are jittery as they have invested a total of Rs 2,86,677 crore toward exploration, mining and attached end use projects, which represents almost 3% of GDP.
Everyone is queuing up to minimise the potential risks. They are looking to secure coal assets overseas, meet new suppliers of imported coal and coal suppliers are looking for new customers and markets.
Over a 200 participants, traders, consultants, government policy makers have already confirmed their participation and there is expected to be capacity crowd at the prestigious Hotel Hyatt Regency.
Hotels in the city are fast filling up and airfares to and from the city have started going up, much before the usual annual festival of Durga Puja.
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Send an email to Linus Lobo of mjunction services limited