CIL registers growth; 6 mt short of target

CIL reported 0.4 per cent growth in production and two per cent growth in offtake during April-June 2013.

GN Bureau | October 3, 2013



In spite of reporting a 10.5 per cent growth in production state owned Coal India Limited (CIL) is still six million tonne (mt) short of production target during April-September 2013.

The target of the company was to increase production by 28 mt to 482 mt (454 mt) in this fiscal. To achieve the targeted production level the company will have to mine at the rate of about 1.6 mt a day for the remaining period of 2013-14.

According to a news report in Business Line company sources said that higher supplies than production resulted a drop in pithead stock to approximately 28 mt. CIL reported 0.4 per cent growth in production and two per cent growth in offtake during April-June 2013.

It is likely that higher production in October-December may merely add on pithead inventory, as railways will be preoccupied in moving the harvested crop, thereby, limiting scope for evacuation of coal to power plants.

Although company insiders agree that CIL may miss the production target for the year, they say lower production will not result in any supply shortfall as the gap will be bridged by diluting inventory.

“For years CIL went on accumulating inventory due to mismatch between production and evacuation. We have reserved the process since last fiscal, thereby diluting 14 mt of stock (from as high as 71 mt on March 31, 2012),” a source was quoted saying.

 

Comments

 

Other News

When religion, politics and Bollywood come together

Tavleen Singh, noted journalist and political commentator, has turned to fiction, with her debut novel ‘The Actor’ (HaperCollins India). Set in the near future, it has a superstar, Amit Singh, turning to politics, when the political landscape is dominated by prime minister Guru Gaynendraj

Cabinet approves setting up of Integrated Transport & Logistics Authority

The union cabinet, chaired by prime minister Narendra Modi, on Tuesday approved the setting up of a Special Purpose Vehicle (SPV), called Integrated Transport & Logistics Authority (ITLA), to strengthen research, planning, appraisal, monitoring and impact assessment within the broad domains of Transp

Why foundational literacy and numeracy is key to school education

Foundational Literacy and Numeracy (FLN) are often described as the building blocks of education. Yet, their significance goes well beyond a child’s ability to read a sentence, write a response or solve a basic mathematical problem. These foundational skills shape how children understand the world,

When police data becomes the algorithm

For decades, policing has followed a familiar sequence: a crime occurs, the police respond, an investigation produces records and those records become part of the institutional memory of the criminal justice system. Artificial intelligence is beginning to alter that sequence. Instead of merely recording

Before India voted, the framers worried about the referee

“We are making a Constitution forever and not only for today.” Shibban Lal Saksena said this in the Constituent Assembly on June 15, 1949. He was warning that a ruling party might one day choose a loyalist to run India’s elections. Seventy-seven years later, the Supreme Court is wrestli

Delhi moves to real-time traffic management

The Cabinet Committee on Economic Affairs (CCEA), chaired by prime minister Narendra Modi, has approved implementation of the ITMS Project by Delhi Police at an estimated cost of Rs.1,789.52 crore, inclusive of taxes. The project will cover 42 identified traffic corridors and will be implemented in three

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter