CIL’S OUT­PUT TAR­GET LIKELY TO BE SET AT 660 MT FOR FY18

Resource Digest - - NEWS -

CIL'S pro­duc­tion tar­get may be set at 660 mil­lion tonnes for the next fis­cal. "Coal In­dia's pro­duc­tion is likely to be set at 660 mil­lion tonnes (MT) for 2017-18," an of­fi­cial said.

A mem­o­ran­dum of un­der­stand­ing (MOU) be­tween the gov­ern­ment and Coal In­dia Ltd (CIL) on the pro­duc­tion tar­get for the next fis­cal is yet to be signed.

"The MOU pa­ram­e­ters are yet to be fi­nalised" and dis­cus­sions on the same are un­der­way, the of­fi­cial said.

Due to var­i­ous prob­lems like land ac­qui­si­tion and re­set­tle­ment and re­ha­bil­i­ta­tion, CIL may not achieve the pro­duc­tion tar­get of 598 MT for the on­go­ing fi­nan­cial year and may end the fis­cal with the pro­duc­tion of 575 to 582 MT coal, the of­fi­cial in­formed. CIL'S out­put in Aprilde­cem­ber of this fis­cal stood at 377.7 MT, lower than the tar­get of 417.5 MT.

It pro­duced 54.2 MT of fos­sil fuel in De­cem­ber, lower than the tar­get of 56.6 MT for the month.

The gov­ern­ment had ear­lier said there were no plans to cut down coal out­put be­cause the de­mand has al­ready picked up now. In Oc­to­ber, the de­mand started pick­ing up for both coal and power sec­tors. Coal In­dia, which ac­counts for over 80 per cent of the do­mes­tic coal pro­duc­tion, is eye­ing to pro­duce one bil­lion tonnes of fos­sil fuel by 2020.

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