CIL fails to meet production target by 17 million tonne in FY2013-14
Coal India Ltd chairman and managing director S Narsing Rao has said that the company could end the financial year with a production shortfall of around 17 million tonne (MT). The fall in coal offtake for power production and the unwillingness of state electricity boards to buy enough power has led to lower demand for coal thereby affecting the production targets. India's largest coal miner could mine around 465 MT of the 482 MT production targeted for 2013-14. The company has agreed that except for some power projects in Tamil Nadu, Andhra Pradesh and Karnataka where there are logistical issues. There is huge amount of coal stocks across the country. The coal demand in India is likely to grow from 649 MTPA to 730 MTPA in 2016-17, with the projected local availability being only 550 mt per year. Coal requirement is estimated to be around 850 MTPA by the end of the 13th five-year plan (2017-22).