Coal India sets 468MT production target for 2012-13
State-owned Coal India (CIL) today said it has fixed a production target of 468.74 million tonnes (MT) for the current fiscal.
April 24, 2012 / 20:01 IST
State-owned Coal India (CIL) today said it has fixed a production target of 468.74 million tonnes (MT) for the current fiscal.
"CIL... signed MoU with its administrative ministry - Ministry of Coal - for its key performance areas for the fiscal 2012-13... CIL's targeted production and coal off-take had been fixed at 468.74 MT and 474.70 MT respectively," the company said in a statement. The world's largest coal producer, which accounts for over 80% of the domestic production, said it has sought 193.3 rakes per day from the Railways for 2012-13.The average availability of rakes in 2011-12, it added, was 168 rakes a day while in 2010-11 the figure stood at 161.9 rakes a day. "Average growth of coal movement through Rail has only been around 3% during the last 3 years, whereas CIL has envisaged a growth of around 12.6% through rail," the statement said. The Memorandum of Understanding was signed by former CIL Chairman Zohra Chatterji and Coal Secretary Alok Perti.The state-run coal miner said its research and development activities have taken a quantum jump with expenditure of 30 crore in 2010-11 as against Rs 10 crore and Rs 15 crore annually in the previous financial years. CIL missed its revised 2011-12 production target as it achieved only 435.84 MT as against 447 MT. 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!
