Industry

Coal India cuts FY21 target to 650-660 MT

State-run Coal India Ltd. has revised its production target to 650-660 million tonnes for the current fiscal in the wake of the disruptions caused by the COVID-19 pandemic, a top company official said on Saturday.

The miner had earlier set a production target of 710 million tonne for the 2020-21 fiscal.

“COVID-19 pandemic has affected demand for coal,” Coal India Chairman Pramod Agrawal said at a webinar organised by the Bharat Chamber of Commerce. “However, demand has started to pick up now as the industries have commenced operations.

“Given the situation, we are hopeful to end the year with 650-660 million tonne of production,” he added.

The miner is witnessing a 7-8% growth in demand in August, Mr. Agrawal said.

The Maharatna PSU had produced 602 million tonne of coal last year as against a target of 630 million tonne.

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Printable version | Sep 28, 2020 12:41:25 AM | https://www.thehindu.com/business/Industry/coal-india-cuts-fy21-target-to-650-660-mt/article32306647.ece

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