NALCO again in coal crisis

National Aluminium Company (NALCO) has slipped into acute coal supply crisis threatening the operation of its 960 mw captive power plant at Angul, for the second time in last three months, reports Business Standard. This is despite the arrival of two rakes (7000 ton) of imported coal in last two days, the company had ordered 1.7 lakh ton coal import from Indonesia. It is learnt that there is now a stock of about 14000 ton of coal, just enough to feed the plant for one day and the coal situation worsened during the last three days when the stock level came down to one day requirement instead of three days, which was being maintained for last three months. This is due to drop in supply of coal supply from Talcher coalfield of Mahanadi Coalfield Limited (MCL) Apart from using the power generated at its six CPP units, the company is buying power to the tune of 30 to 50 mw from Grid Corporation of Orissa every day. The authorities fear if the coal supply is not enhanced from today, then Nalco (Q, N,C,F)* will be forced to shut down CPP units and regulate power supply to its aluminium smelter which needs uninterrupted power supply round the clock. Shares of the Nalco closed down Rs 19.4, or 4.98%, at Rs 370. The total volume of shares traded at the BSE was 158,507 (Thursday). Source:myiris