Record opening in current fiscal after superb performance in FY 2021-22
Team News Riveting
Bhopal, May 2
Northern Coalfields Limited, the government of India’s mini ratna company, has started the new financial year 2022-23 with a record production.
The company produced 10.81 MT of coal with whooping 26.22 per cent year-on-year ( y-o-y) growth. The output is 105.8 per cent of the target set for the month of April 2022.
Augmenting supply to meet the demand of coal consumers amid increasing energy consumption of the nation in post-pandemic period, NCL dispatched 11.14 MT of coal in April with 18 per cent y-o-y growth.
NCL has been entrusted with 122 Million Tonnes of Coal Production, Dispatch, and 410 Million Cubic Meters of Overburden (The material above coal in open cast mining) in FY 2022-23.
NCL’s coal production has grown by 45% and coal dispatch by 50 per cent during the last 5 Years to give impetus on growing economy of the nation.
NCL produced more than 122 MT of coal in the Pandemic year 2021-22. The company also dispatched more than 125 MT of coal to its consumers in the last fiscal, out of which a record 110.6 MT of Coal was sent to powerhouses with a 17 per cent Yearly growth.
Using an eco-friendly mode of coal dispatches, more than 82 per cent of total coal was delivered through the green modes of Merry Go Round, Railways, and Belt pipe Conveyor in FY 2021-22.
NCL spent about Rs 1750 crore in FY 2021-22 on capital expenditure for robust infrastructure and capacity building.
Northern Coalfields Limited is a flagship subsidiary of Coal India Limited mining coal from its 10 open cast coal mines located in Singrauli and Sonbhadra districts of MP and UP respectively.
