CIL, world’s largest coal producer, has failed to achieve its FY15 Coal production target and achieved about 97% of targeted quantity for FY15. On the other hand, the company’s annual production has risen by 6.5% compared to last fiscal.
The company’s targeted production and off-take performance, including all its subsidiary companies, missed 13 MnT & 31 MnT respectively in FY15. Earlier the company had set a production target of 507 MnT and off-take target of 520 MnT for the recently ended fiscal year.
SECL contributed about 26% of the total production in FY15, which is the highest from any other subsidiary of CIL. SECL, MCL & NCL produced 128, 121 & 72 MnT Coal respectively.
MCL, one of the major subsidiaries of CIL achieved about 105% of its targeted quantity. CCL and BCCL also beat their targets for FY15.
|
CIL Production in Mar’15 |
FY15 (Apr’14-Mar’15) |
|||
|
Company |
Targeted |
Achieved |
Targeted |
Achieved |
| SECL |
14.5 |
14.1 |
131.0 |
128.3 |
| MCL |
14.5 |
12.4 |
127.0 |
121.4 |
| NCL |
7.6 |
9.7 |
77.0 |
72.5 |
| WCL |
4.5 |
4.7 |
44.0 |
41.2 |
| ECL |
4.2 |
5.0 |
38.0 |
40.0 |
| CCL |
8.1 |
7.5 |
55.0 |
55.6 |
| BCCL |
3.3 |
3.7 |
34.0 |
34.5 |
| NEC |
0.2 |
0.2 |
1.0 |
0.8 |
| Total |
56.9 |
57.3 |
507.0 |
494.2 |
Viewing the expeditiously rising Coal demand in India, CIL took significant measures to raise its production and also succeeded to increase production in FY15 as compared to FY14. But, the measures proved ineffective in achieving the target for the fiscal amid few domestic issues, which affected its daily output.
CIL recently planned to sign a joint venture agreement with the Indian Railways to developing a number of railway projects which may help in coal movement in near future.
Among the several identified projects, only three projects are in priority. These are related to the mines in Jharkhand, Odisha & Raigarh-Mand in Chhattisgarh. CIL is likely to put in investments worth about INR 40 billion in these three projects with Railways executing the lines.
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