Coal India Achieves 536 MT Coal Output in FY16; Misses Target
By PTI | Published: 01st April 2016 05:49 PM |
NEW DELHI: State-owned Coal India has achieved an 8.5 per cent growth rate in production at 536 million tonnes in 2015-16, but missed the output target of 550 million tonnes for the just-concluded financial year.
Coal Secretary Anil Swarup in a tweet said, "Coal India Ltd (CIL) achieves a record production of 536 MT during FY15-16, 42 MT more than the previous year, growth of 8.5%."
The record coal production and off-take has resulted in unprecedented 28-day average inventory of coal at power plants, the Secretary said further.
"Consequent to record production of coal by Coal India, no power plant critical or supercritical for want of coal," Swarup tweeted.
The Secretary had earlier said that Coal India might miss the production target of 550 million tonnes for 2015-16 by 10-15 MT due to slump in demand.
Coal India, which accounts for over 80 per cent of the domestic production, is aiming to double the output to one billion tonnes in next four years.
"(For CIL) 550 million tonnes would now be a little difficult in the given circumstances. I think they would be able to hit anywhere between 535 MT and 540 MT. Reason being there is a demand slump," Swarup had said.