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CIL reported 495 MT of production in April-February

Author: IANS/Saturday, March 3, 2018/Categories: Energy

CIL reported 495 MT of production in April-February

Kolkata, March 1 - Coal India Ltd (CIL) on March 1 reported 495.09 million tonnes (MT) of production in April-February in the current fiscal, but missed the target by nearly 7%.

CIL, with a target to produce 531.32 MT during eleven months, clocked a 1.4% growth in production from 488.06 MT in the same period of 2016-17, its provisional data showed.

However, the state-run miner achieved a 7% growth in off-take to 525.09 MT during April-February of 2017-18 as against a target of 541.60 MT for the period.

The miner had an off-take of 490.86 MT during the same period in the previous financial year (2016-17).

CIL's production for February (2018) was 54.46 MT, missing the target of 61.43 MT for the month by 11%.

Its off-take for last month stood at 49.97 MT, also missing the month's target of 52.14 MT by 4%.

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

The miner also aimed to touch an off-take of 600 MT in 2017-18.

As per the Annual Plan proposal for 2018-19, the production target of the miner has been kept at 630 MT with 5% growth over the target of 2017-18.

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

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Kavita Giridhar Mallya


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