Coal India Limited (CIL), a state owned Coal miner, has missed its production target of Apr-Aug’14 by around 8.0 MnT as reported by the company.
Country’s behemoth, CIL produced around 34.54 MnT of Coal during August against its target of 35.13 MnT. Company has also missed its off-take target by 14.4 MnT from Apr-Aug’14. CIL has recorded around 37.3 MnT of Coal supply in the month of August, which was targeted to around 37.8 MnT.
During August, CIL’s major subsidiary, MCL has achieved around 108% of its targeted production and produced around 9.5 MnT Coal. Whereas, another major subsidiary, NCL has achieved around 4.4 MnT that declined by 18.5% in comparison with its August targeted production.
|
CIL Production in Aug’14 |
||
|
Company |
Target |
Achieve |
|
SECL |
9.60 |
8.69 |
|
MCL |
8.85 |
9.53 |
|
NCL |
5.41 |
4.36 |
|
WCL |
2.75 |
2.38 |
|
ECL |
2.54 |
2.45 |
|
CCL |
3.50 |
4.61 |
|
BCCL |
2.43 |
2.54 |
|
NEC |
0.05 |
0.003 |
|
Total |
35.13 |
34.56 |
Qty in MnT
During the first months of FY15, CIL has achieved 95% of its production target and produced total around 175.8 MnT Coal, while, its target for the same period was 183.9 MnT. However, in comparison to same period of FY14, its production has grown by 5%.
Asia’s 3rd largest economy, India, which relies on Coal to generate over 65% of electricity, is facing Coal shortage. Number of Power plants is running under production as CIL has been missing its target from last 4th consecutive months. Also, the company is unable to fulfill growing demand of the country.
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