Central Coalfields Ltd (CCL), a subsidiary of mining giant Coal India, is counting on likely environmental approvals to new projects in coming months and expansion in existing mines to propel its production in 2018-19.
The CCL today said the production target for 2018-19 has been pegged at 76.35 million tonnes (MT).
" The coal production target of CCL for the year 2018-19 is 76.35 MT ... Many stuck environment clearances for new projects are also in the pipeline to be cleared in coming months, which will help to increase production from existing projects," the company said in a statement.
The company, it said, will expand few existing projects which will also boost the coal production.
CCL produced 63.40 MT coal in 2017-18 against the target of 70.50 MT for the full year, according to a BSE filing. The FY2017-18 output fell by 5.4 percent on yearly basis.
CCL dispatched a record 67.6 MT of coal and loaded 11518 rakes in 2017-18, which were 371 rakes above last fiscal year. Coal dispatches, however, missed the annual target of 70.5 MT.
Capital expenditure of the company has been about Rs. 1350 crore, almost double the target and 17.8 percent more than last year.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
