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Coal India ropes in KPMG for 'Vision 2030'

Reported by: PTI New Delhi 07 Jul 2017, 22:23:23 IST
PTI

MNC consultant KPMG is being roped in by Coal India for a business roadmap plan 'Vision 2030'.

"We have selected KPMG for 'Vision 2030' plan in which all options remain open at a time when coal demand are subdued and uncertainty looms over it in the long run," Coal India officials said.

KPMG will submit its report in 14 weeks after the formal contract award. KPMG had prepared 'Vision 2020' besides a few other assignments for Coal India.

Coal India invited bids for 'Vision 2030' because coal is likely to decline in country's energy mix with big boost to renewables. Power plants account for over 80 per cent of coal demand in the country and is now is showing signs of stagnation in demand.

Coal India is now looking at diversifying into related energy fields like renewables. Possibility of it entering into mining, metals and minerals are not ruled out.

In the notice inviting tenders for the Vision 2030, Coal India said With government's efforts to push renewable energy due to international conventions on climate change, increase in carbon cess and other initiatives for lesser use of coal, there is a need for Vision 2030 for the coal sector, which takes into account the environmental factors such as reduction of carbon footprint, abatement of global warming.

Coal India is gearing up for 10,000 MW plant of solar power to focus on renewables.