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Coal India cuts production target for the current financial year

08 Dec 2011 Evaluate

Coal India (CIL), a Maharatna Company, has cuts its production target to at least 440 million tonnes for the current financial year from the estimate of 452 million tonnes in its annual plan. The state-run company has lowered its production target due heavy rainfall, strike and delays in the grant of forestry and environmental clearances to coal projects.

During terminal year of the 12th Five-Year Plan (2012-17) company was planning to mine between 556 and 615 million tonnes of coal. CIL had asked the government to scale down its production target for the 2011-12 financial year to 448 million tonnes (MT), fearing it will not be able to make up for the slippage in output in the first half of the fiscal.

The coal miner was not able to achieve its April-September target by about 20 million tonnes, recording an output of 176 million tonnes against the target of 196 million tonnes, as inclement weather, including heavy rains in August-September that affected production in almost all its collieries.

CIL had lowered its production target to 440.20 million tonnes from 460.50 million tonnes last fiscal as well.

Coal India Share Price

438.70 5.80 (1.34%)
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Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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