Kolkata, Dec 1 (IANS) Coal India Ltd (CIL) on Saturday reported that its coal production grew by 5.3 percent to 50 million tonnes (mt) in November as compared to 47.47 mt of coal produced in the corresponding month last fiscal.
CIL, which produces 84 percent of the country’s coal production, was targeting 53.85 mt of coal production during the month.
According to provisional data, the miner produced 323.57 mt in April to November period, achieving 90 percent of the target of producing 360.84 mt.
The coal behemoth’s production grew by only 0.7 percent in the April-November period from 321.38 mt produced in the corresponding period last year.
It also reported that its off-take during April-November period was down by 0.2 percent at 340.32 mt as against a target of 381.55 mt. The off-take for November stood at 48.16 mt achieving 97 percent of the target.
In 2015-16, the state miner produced 538.75 mt of coal against a target of 550 mt and its off-take was at 534.5 mt.
During the current fiscal, the coal production target has been pegged at 598.61 mt and production is expected to be 660.7 mt in 2017-18.
The company envisaged production of 908.10 mt in 2019-20 with a CAGR (Compound Annual Growth Rate) of 12.98 per cent with respect to 2014-15.
In its latest annual report, CIL said it would invest Rs 7,765 crore as capital expenditure and Rs 5,069 crore in various other projects in 2016-17.