Coal India production grows 2.3% in April-February

Kolkata, March 1 (IANS) Coal India Ltd (CIL) on Wednesday reported that its coal production grew by 2.3 percent to 488.06 million tonnes (mt) during April to February period in the current fiscal as compared to 477.31 mt produced in the corresponding period in the last financial year.

The miner which aimed to produce 535.38 million tonnes in the first 11 months of the current fiscal achieved 91 percent of the target.

According to provisional data, production stood at 54.30 mt in February, achieving 96 percent of the target at 56.81 mt for the month.

CIL, which produces 84 percent of the country's coal, reported that its off-take during April-February period was up by a marginal 1.6 percent at 490.86 mt as against a target of 540.31 mt.

Its off-takeAfor February stood at 47.73 mt achieving 94 percent of the target of 50.61 mt for the month.

In 2015-16, the state miner produced 538.75 mt of coal against a target of 550 mt and its off-take was at 534.5 mt.

During the current fiscal, the coal production target has been pegged at 598.61 mt and production is expected to be 660.7 mt in 2017-18.

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

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