Coal India Limited (CIL), a state-owned largest coal miner, beats its Oct’14 coal production target at the first time from beginning of FY15.
In Oct’14, CIL has achieved more than its monthly target and produced about 40.2 MnT coal instead of targeted 39.7 MnT. The company has been failed to achieve its objective from the beginning of FY15, but at the 1st time, it succeed to achieve its targeted production in Oct’14. In Q2 FY15, its production has raised by almost 5% against Q2 FY14.
|
CIL Production October, 2014 |
||
|
Company |
Target |
Achieve |
|
SECL |
10.3 |
10.7 |
|
MCL |
10.7 |
10.2 |
|
NCL |
6.0 |
5.8 |
|
WCL |
3.2 |
3.2 |
|
ECL |
2.5 |
3.2 |
|
CCL |
4.3 |
4.4 |
|
BCCL |
2.7 |
2.7 |
|
NEC |
0.1 |
0.0 |
|
Total |
39.7 |
40.2 |
CIL, having 8 subsidiaries based in different states, has missed its target by 3.5% in Apr-Oct FY15 and produced about 250.9 MnT against 259.8 MnT targeted during the period. In October, CIL’s subsidiary ECL has achieved around 25% more than of its target and produced about 3.2 MnT coal.
As coal demand in India is increasing expeditiously, the company is taking measures to raise its production but lack of rail connectivity has bounded the company to reduce its supply. On the other hand, the company has missed its Oct’14 off-take by 1.83 MnT.
The government has asked Coal India to update information on the possible impact of coal blocks cancellation.
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