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Coal India may miss production target again

Em News Bureau ,  Friday, March 15, 2013, 11:30 Hrs  [IST]

Coal IndiaCoal India is likely to miss its production target for FY13, the PSU miner has reportedly indicated to the coal ministry. As against the target of 464.10 million tonnes, actual output is likely to be 451.50 million tonnes—a shortfall of 12.6 million tonnes. CIL has attributed loss of production to Cyclone Nilam that hit south India in October and November 2012.

Untitled Document
COAL INDIA LTD: PRODUCTION
(million tonnes)
  Target Actual % shortfall
FY12 447.00 435.84 2.5
FY13 464.10 451.50 2.7

CIL targeted to dispatch 470 million tonnes, which it can honour from its pithead stocks. However, stock depletion along with lower production could hamper future dispatches.

During the first three quarters of FY13, CIL mined 308.89 million tonnes of coal that however was higher than 291.24 million tonnes in the same period of FY12. To meet the production target, CIL will need to mine 155.21 million tonnes that is substantially higher than the average quarterly production of 103 million tonnes so far this year. In FY12, Coal India produced 435.84 million tonnes against the target of 447 million tonnes.
 
                 
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