Coal India to hike output by 5 %

Coal India is trying to achieve a five per cent growth in
output for the current fiscal. This is despite hurdles such as the delay in
regulatory clearances and issues relating to land acquisition.

“CIL production has been hit due delays in environment and
forest clearances, land acquisition and problems like extremism and law and
order. Efforts are being made to raise production by 5 per cent this fiscal,”
the Coal Minister, Mr Sriprakash Jaiswal, told the Rajya Sabha on Monday.

Coal India's output over the past couple of years has been
largely stagnant. Last fiscal, Coal India's production stood at 431.32 million
tonnes.

Mr Patil said the coal stock with power stations has
increased from 11.51 mt at the end of July 2010 to 13.164 mt at the end of July
2011. Coal India has offered to supply 447 mt of coal to power utilities in
2011-12 subject to the availability of wagons by Railways at an average of
190.4 rakes per day during the year.

Further, in a bid to plug the growing demand-supply gap,
Coal India is looking at overseas acquisition. Besides, it is also planning to
start production from the two coal blocks it had acquired in Mozambique
recently.

Source: The Busimess Line