Coal India misses August production target

Kolkata, Sep 1 (IANS) Coal India Ltd (CIL) on Thursday reported that it has produced 32.43 million tonnes of coal in August as against a target of 40.89 million tonnes and its production during the first five months of 2016-17 grew by only 1.3 per cent.

According to provisional data, CIL's off-take in August was at 36.72 million tonnes as against a target of 44.51 million tonnes, achieving 83 per cent of the target. Its off-take in the first five months of the current fiscal grew by a meagre 0.2 per cent.

In 2015-16, the miner produced 536.51 million tonnes of coal against a target of 550 million tonnes and its off-take stood at 532.26 million tonnes.

In its latest annual report, coal-mining behemoth said it would invest Rs 7,765 crore as capital expenditure and Rs 5,069 crore in various other projects in 2016-17.

The company envisaged production of 908.10 million tonnes in 2019-20 with a CAGR (Compound Annual Growth Rate) of 12.98 per cent with respect to 2014-15.

During 2016-17, the coal production target has been pegged at 598.61 million tonnes with an annualised growth of about 11.6 per cent. In 2017-18, coal production is expected to be 660.7 million tonnes with a growth of about 10.5 per cent.