Coal India (CIL) has raised its Coal production by 5.3% in Q1 FY15. However, it failed again by 2.3 MnT to achieve its target in June, 2014.
The largest Coal miner in India, CIL with its 8 subsidiaries based in different states has produced over 34.54 MnT Coal missing its targeted production of about 36.84 MnT June, 2014. However, its monthly Coal production increased by 6% against June, 2013.
The company has also missed its 42 MnT off take target and produced around 38.3 MnT in June, 2014. During FY15, CIL targets to produce around 507 MnT.
Meanwhile, the company is taking few certain steps to increase its production. CIL’s Q1 production has increased by almost 5.3% in FY15 (Apr’14-Jun’14) than same period of last fiscal year.
India’s Coal demand increasing continuously and estimated to increase by 27% till FY17. In order to meet this escalating demand, the Coal Ministry had asked CIL to increase the total production from its all subsidiaries situated in different states.
CIL also strengthening its supply base for Coal with ICVL, a joint venture group, intended for identifying & acquiring overseas Coal assets. This JV may help CIL to meet rising demand in the country.
Currently, government is looking for ample fuel linkages to provide Coal fired power plants, which help to meet country’s energy requirement.