Coal India again failed to achieve its production target and fell shortly by 2.3 MnT in Jun’14.
CIL, a state owned largest Coal miner with its 8 subsidiaries based in different states, has produced around 34.54 MnT Coal instead of targeted 36.84 MnT for Jun’14. However, its Coal production increased by 6% against June, 2013.
The company has also missed it’s off take target of 42 MnT and produced around 38.3 MnT in Jun’14.
CIL is targeting to produce around 507 MnT during FY15.
On the other hand, the company is taking few steps to increase its production. CIL’s Q1 production has increased by almost 5.3% in FY15 (Apr’14- Jun’14) than same period of last fiscal year.
India’s Coal demand increasing continuously from last couple of years and estimated to increase almost by 27% till FY17. In order to meet this burgeoning demand, the Coal Ministry has more concern, and asked earlier to increase CIL’s total production from its all subsidiaries situated in different states.
CIL also strengthening their supply base for Coal with ICVL, a joint venture group, intend to identifying and acquiring overseas Coal assets. This JV may help CIL to meet rising demand in the country.
Currently, government is looking ample fuel linkages to provide Coal fired power plants, which help to meet country’s energy requirement.
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