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Coal India misses production target by 5% during Apr-Oct

Author: IANS/Friday, November 3, 2017/Categories: Energy

Coal India misses production target by 5% during Apr-Oct

Kolkata, Nov 2 - Amid complaints from thermal power plants over inadequate supply of fuel, Coal India Ltd (CIL) on Thursday reported that it has produced 278.01 million tonnes during the April to October period, but missed the target by 5%.

The miner, which has a target to produce 292.77 mt during the period, achieved a 1.6% growth in production from 273.57 mt produced in the same period last year, its provisional data showed. 

According to data, CIL produced 46.14 mt in October only, missing the production target of 49.47 mt for the month by 7%.

The Central Electricity Authority's latest data showed coal stocks available with power plants stands now at an average of six days while 22 plants have very low stocks positions.

CIL Chairman Gopal Singh said the company is "pushing hard" to meet the 600 mt production target for fiscal 2017-18 and the one billion tonne production mark for 2019-20.

The miner reported its off-take grew by 8.6% in the April-October period to 317.30 mt as against the off-take of about 292.16 mt in the corresponding period last year. However, the company achieved 97% of its off-take target of 327.79 mt for April to October period of the current fiscal.

In October only, its off-take was at 48.28 mt, as against the target of 48.14 mt.

The miner envisaged production of 908.10 million tonnes in 2019-20 with a CAGR (Compound Annual Growth Rate) of 12.98%, with respect to 2014-15.

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Kavita Giridhar Mallya

IANS

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