Team News Riveting
Raipur, May 21
State-run Coal India Limited (CIL) had bagged the PSU award of fastest growing Maharatna of the Year in the non-manufacturing sector.
The award had been instituted by the Dalal Street Investment Journal (DSIJ). Since the inception of the PSU Awards in 2009, the journal has been diligently recognising the efforts, contribution and achievements of the PSUs.
The Roll of Honour said that CIL as a whole produced 602.14 million tonne (MT) during 2019-20 accomplishing 91 per cent of the targeted production. Coal off-take was 581.93 MT that is 88 per cent of the target materialisation due to subdued demand from the consuming sector.
South Eastern Coalfields Limited (SECL) for the second year in succession sailed past 150 MT production milestone and was the only CIL producing company to do so, it said, adding that the Northern Coalfields Limited (NCL) repeated its commendable feat of previous fiscal in 2019-20 as well when it surpassed its annual production target of 106.25 MT four days ahead of the closure of the fiscal.
Western Coalfields Limited (WCL) reached its annual production target of 56 MT three days ahead of the closure of the financial year, ending up with 57.64 MT output.
The Roll of Honour added that to ramp up the coal production, 18 mining projects reports have been cleared by Coal India and subsidiaries companies in 2019-20 with a rated capacity of 132.04 MT per year and sanctioned capital of Rs 21244.55 crore.
SECL spokesperson informed that CIL Chairman Pramod Agrawal congratulated the officials and employees of the company for the feat and expressed gratitude towards the stakeholders.
