Team News Riveting
Kolkata, September 7
In a historic high, Coal India’s (CIL) production increased by 44.6 million tonnes (MT) in just 5 months and 4 days of the ongoing fiscal, as of 4 September eclipsing the previous best of 44.5 MTs registered in financial year 2015-16 (FY’16), which though was for the entire year.
The record milestone was achieved when CIL’s progressive production touched 259.6 MTs on 4 September’22 of the current fiscal, compared to 215 MTs same date last year.
“What makes the achievement standout is that CIL accomplished the absolute growth of 44.6 MTs in production in only a span of 5 months and 4 days of the current fiscal whereas the earlier high of 44.5 MTs was for the full fiscal of 2015-16”, said a senior executive of CIL.
Pursuing 700 MT production target in FY’23 CIL began the chase with an asking growth rate of 12.4 per cent which, on the back of a strong output performance, slid down to 8 per cent as of now. All the subsidiary companies of CIL have posted growth over last year.
CIL usually produces higher volume of coal during the second half of the financial year than in the first half. Of the 700 MT target of FY’23 the production split is around 44 per cent for the H1 and 56 per cent for the H2.
At the current pace of production, if CIL’s mining areas are not excessively affected by heavy seasonal deluge in September, the company is hopeful of reaching close to the apportioned H1 target of 306 MT.
