icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
17 Oct, 2021 13:33

Russia to boost coal supplies to India amid global power crunch

Russia to boost coal supplies to India amid global power crunch

Russia’s Energy Ministry signed an agreement this week with India’s Steel Industry Ministry aimed at increasing Russian coking coal supply to India to 40 million tons per year.

The deal was inked at the Russian Energy Week Forum, held from October 13-15 in Moscow.

According to Russian Energy Minister Nikolay Shulginov, Russia currently supplies around eight million tons of all types of coal to the South Asian country.

The agreement is also meant to stimulate enterprises in Russia and India in the development of coal deposits, the development of coal logistics and infrastructure, the promotion of R&D in production, as well as education and training for the coal industry.

Also on rt.com India faces a power crisis as coal stocks decline – Delhi chief minister

The world’s third-largest coal importer, India, is currently struggling with coal shortages. Coal accounts for around 70% of the nation’s electricity generation. Most of India’s coal-fired power plants have critically low levels of inventory amid growing electricity demand.

A widening gap between soaring international and domestic coal prices has also seen imports decline sharply in recent months.

For more stories on economy & finance visit RT's business section