Coal India Ltd. (CIL) has produced 366.6 million tonnes of coal in the first 10 months of 2013-14, fulfilling 75 per cent of its annual target, while clocking a 3.2 per cent growth rate.
Cyclone Phailin and refusal by a clutch of power utilities to pick up coal were the main reasons behind the production shortfall. “While the output between April 2013 and January 2014 represented a 95 target fulfilment, it is the norm to achieve about 83 per cent of the target during this period,” a source said, adding that at least three utilities declined to lift coal saying that they had sufficient stocks. During these 10 months, while Eastern Coalfields, considered a laggard, clocked a 10.4 per cent growth rate, Western Coalfields went negative, mining an output which was 7.7 cent lower than the same period in 2012-13.
Admitting that the Maharatna PSU was on a weak wicket, sources said that even with a production average of 50 million tonnes during the two remaining months, CIL might close the fiscal producing about 370 million tonnes against the targeted 482 million tonnes.
Offtake, after liquidating 20 million tonnes was 96 per cent of the target for this period.
