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Coal India target concern

Calcutta, Jan. 2: Coal India has missed its output target for December by a whisker, while production for the first nine months of this fiscal remains short of the target by 5 per cent.

Provisional data provided by the state-run miner to the Bombay Stock Exchange show that the company has been able to produce 44.49 million tonnes (mt) against the planned 45.06mt (99 per cent). Five of its eight subsidiaries — Eastern Coalfields Ltd, Bharat Coking Coal Ltd, Northern Coalfields Ltd , Western Coalfields Ltd, South Eastern Coalfields Ltd — have met the target. Coal offtake stood at 42.92mt against 43.51mt planned by the miner.

Production during April-December was 319.19mt against the target of 334.44mt, while offtake stood at 341.52mt against 353.94mt.

This has been attributed to the loss in output in October on account of excessive rainfall caused by cyclone Phailin. Production was also disrupted in Talcher, Odisha under Mahanadi Coalfields, owing to labour unrest over loading and unloading activities at railway sidings.

Coal India, which accounts for over 80 per cent of domestic output, had produced 452.5mt in the previous fiscal compared with the target of 464mt. CIL sources said it would be difficult for the miner to meet the target of 482mt set by the coal ministry for this financial year. A slip in target will be costly as the PSU will have to pay a penalty for any delay in power projects on account of coal unavailability.

Coal India has to meet the fuel supply obligations of 173 power projects with a combined capacity of 78,000 megawatt as directed by the coal ministry.

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