Debjoy Sengupta, ET Bureau Feb 2, 2016, 06.53PM IST
(Prasad, who joined Coal…)
KOLKATA: on Monday promoted as its marketing head, replacing who retired recently.
Prasad, who joined Coal India back in 1982 as a management trainee, was general manager marketing at the firm’s subsidiary .
Prasad joins as director marketing at a time when Coal India is having a hard time offloading its entire production because thermal power plants are flush with coal. Coal stocks at these power plants are about 34 million tonnes, enough for 35 days. On top of that Coal India has total stock of about 40 million tonnes.
With production growth nearly touching 10%, the company now needs to devise ways to offload the coal it is producing. Various logical options being looked into include price reduction, and pushing more coal through e-auction and to thermal power plants that are eligible for and can receive additional coal.
A company official said that while price reduction may not be an immediate option, “we need to make sure that coal being produced is sold”. Selling additional produce is the only viable solution to achieve production growth, the person said.
