CIL misses Jan output target

Calcutta, Feb. 2: Public sector miner Coal India has witnessed an increase in production in January, with four of its eight subsidiaries achieving the target set for the month. However, the miner's overall output fell 8 per cent short of its target.

Provisional production during the month was 55.99 million tonnes (mt) compared with 52.86mt in the year-ago period. The target for January was at 61.04mt.

Bharat Coking Coal, Central Coalfields, Northern Coalfields and Western Coalfields have surpassed their targets. But Eastern Coalfields slipped significantly - 3.45mt against a target of 5mt.

Production for 10 months ended January grew 1.7 per cent over previous year even as it remained 9 per cent short of the target set for the period.

Offtake at 437.61mt during the April-January period recorded a growth of 1.3 per cent, a marginal improvement over the April-December growth rate of 0.6 per cent.

Production target for Coal India in the current fiscal has been set at 598.61mt, and output is expected to be 660.7mt in 2017-18.

The company envisaged a production of 908.10mt in 2019-20, with a compounded annual growth rate of 12.98 per cent with respect to 2014-15.

Coal India Ltd