New Delhi, Apr. 3: The world's largest coal producer, Coal India Ltd (CIL) reported marginal 1% on-year growth in production at 435.84 Million Tonnes (MTs) for fiscal 2011-12.
Company's newly appointed CMD, Ms. Zohra Chatterji while reviewing the the performance of the company for 2011-12 said, "Now it is fully geared up to put up a spirited performance in attaining the optimistic target for 2012 which has been fixed for 470 Mt.”
Highlighting the production drop of 19% and 16.9% in August and September 2011 due to unprecedented rains, Chatterji said that CIL has turned around the crippling negative growth and ended with a positive growth of 1% this fiscal.
Highlighting the turnaround in last quarter of FY12, she said that production picked up in February 2012 recording 17% growth over the previous year. Daily output touched high of 2.03 MT a day, with coal offtake touching an all time high of 231 rakes in a day.
Satisfaction of the power sector was maintained at 94% recording 2% growth over the previous year, she added.
Multi-pronged action which was taken to enhance production, productivity and overall performance of CIL on short-term and long-term basis is as under:
In fiscal 2011-12 production of raw coal, CIL produced 435.84 million tonnes coal as against target of 447 million tones, achieving 96.5% of the target. The contribution from opencast mines was 91%.