The threat of decline in coal consumption in India has eventually brought Coal India Limited (CIL) on to its heels. Demand for coal is expected to go down as renewable energy sources are gaining prominence.
Of late, the management of the state-run miner considered entering into areas other than its core activity—coal mining—to fend off threats to its bottom line in the future.
The Board of Directors is seriously considering entering into other energy-related fields. Among the considerations, entering into the production of Coal Bed Methane and, expanding its presence in thermal and solar power generation are being mulled.
The directors are likely to place a proposal to the company board soon in this regard, as learnt.
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