Amid scarcity of the fossil fuel hurting various sectors, Coal India (CIL) has said it will need to increase its production by 6.5 per cent from the existing level to
meet the output target of 468 million tonnes for this financial year.
"As of today, the company's coal production growth has been 5.2 per cent. We are still behind the target. The growth has to be 6.5 per cent to meet the production target of the current financial year," Coal India Chairman and Managing Director Narsing Rao said.
The production growth of the public sector in April stood at 3.5 per cent over the same month last financial year, he said.
Analysts believe if CIL achieves the production target for the 2012-13, then it would be able to meet the coal commitment of power firms with which it
has signed fuel supply pacts.
The country's biggest coal producer had missed its revised production target and achieved 435.84 million tonnes (MT) for 2011-12 against 447 MT set for the fiscal.
The public sector major has
attributed lower production to various factors like heavy rains and regulatory hurdles in its new and expansion projects.
CIL has fixed a production target of 468.74 million MT for the current financial year.
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