Coal India hopes to reach close to its production target of 306 million tonnes in the first half of FY23
State-owned CIL on Wednesday said it would reach close to its production target of 306 million tonnes in the first half of FY23, provided its mining areas are not highly affected by heavy rains this month.
Coal India Ltd (CIL) accounts for over 80 percent of domestic coal output.
“At the current pace of production…the company is hopeful of reaching close to the apportioned H1 target of 306 million tonnes,” Coal India Limited said.
The company said that of the total production target of 700 million tonnes for FY23, the output split is around 44 percent in the first half and 56 percent in the second half.
Coal India’s production increased by 44.6 million tonnes in just five months and four days of the ongoing fiscal (as of September 4).
The statement said that CIL’s progressive production touched 259.6 million tonnes as of September 4, compared to 215 million tonnes during the same period date last year.
The public sector unit began to chase the production output with a growth rate of 12.4 percent, which, on the back of solid output performance, fell to 8 percent at present.
Coal India Limited usually produces a higher volume of coal during the second half of the financial year than in the first half.