Coal India may produce 462 million tonnes, missing FY14 target

Coal India Ltd (CIL) is likely to end the current financial year with production

RELATED ARTICLES

of 462 million tonnes, missing the target of 482 million tonnes.

The state-owned company, which accounts for over 80 per cent of domestic coal production, has been drawing flak for missing output targets.

"Today is the last day of the current fiscal and in the current financial year the PSU may produce 462 million tonnes of coal," according to a company official. In March, the PSU produced 51.3 million tonnes of coal, the official said.

Production has fallen short of target on account of various reasons such as "environment clearance problem and also due to Phailin," the official said.

According to a CIL official, production suffered in October due to Cyclone Phailin, which affected the key coal producing states of Odisha, Jharkhand and West Bengal.

Coal India had said earlier it may miss the production target of 482 million tonnes for 2013-14.

Coal Minister Sriprakash Jaiswal had asked the company to ensure that the output goal is met.

In 2012-13, the company produced 452.5 million tonnes of coal, short of the target of 464 million tonnes.

Coal India's production target for 2014-15 has been set at 507 million tonnes, while the offtake target for the next financial year is 520 million tonnes.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Tighter disclosure norms will help public shareholders

    The Securities and Exchange Board of India (Sebi) has proposed changes in listing agreements between companies and stock exchanges, laying down manage

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Why UGC must focus on quality

In a vast country like India, where there are pressures ...

Rajgopal Nidamboor

The sum total of our conscious experience

All of us epitomise a multiplicity of conscious thoughts. This ...

Gautam Gupta

Don’t let success kill the essence of the concept

In 1999 when my mother started her own label, we ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture