• CIL needs to generate about 287.4 million tonnes more in the remaining four months of the current financial year to meet the target of 700 million tonnes
Coal India Limited (CIL), which accounts for about 80% of India's domestic coal production, announced on Thursday that its production has reached 412.6 million tonnes from April to November of this financial year. The company expressed confidence of surpassing the targeted production for the current financial year. CIL has set a production target of around 700 million tonnes in the current financial year.
There has been a growth of 17% in the production by CIL and for the same period in the last financial year, the company has registered a production of 353.4 million tonnes.
To meet the target of 700 million tonnes, the company needs to produce about 287.4 million tonnes more in the remaining four months of the current financial year. Talking about the targeted production, a senior CIL official said that it is possible to exceed the target.
“With the removal of overburden showing a strong growth in production so far and helping in faster extraction of coal in the coming months, we feel confident of surpassing the production target for the financial year. Yes, the production steps into a higher trajectory during the fourth quarter," the official added.
Last month, the PSU produced 60.7 million tonnes of coal which was 12.8% higher than the production in the corresponding financial year last year.
Coal supplies to power plants by the company also registered a growth of 11.8% and supplied 380.7 million tonnes during the April-November period. The company also pointed out that the total takeoff of all coal consuming regions till November was 445 million tonnes and the total coal stock at CIL's pithead stood at 28.5 million tonnes by the end of November.
The data came against the backdrop of dismal growth numbers for India's eight core industries, which grew by only 0.1% in October 2022. October against the first month throughout the year.
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