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Coal India may miss output target this fiscal

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SummaryCIL chief said power companies together have indicated their willingness to import over 7 MT of coal

Coal India Limited (CIL) may miss its output target this year by over 6 million tonne owing to tardy progress in getting green clearances, its chairman S Narsing Rao said on Thursday. If the pace of granting green clearances further slows down, then the firm can also miss its target of 530 MT in 2014, he argued.

The state-run company which accounts for more than 80 per cent coal production in the country is slated to produce 482 MT but it is unlikely to achieve it and may have to contend with an output of 475 MT. What more, if the Maharatna company continues to get delayed clearances, its target of producing 530 MT in 2014 may remain a distant dream, he said.

The world's biggest coal miner which has produced nearly 290 MT of the fuel in the April-November period is upset that its capacity expansion is getting constrained in the absence of green clearances. On the issue of Competition Commission slapping penalty of Rs 1773 crore on his company for abusing its monopoly position, Rao argued that it needs to be debated that if Coal India is abusing its monopoly position then how come it owes over Rs 15000 crore as outstanding dues from its buyers.

On coal imports, the CIL chief said power companies together have indicated their willingness to import over 7 MT of coal, but how much of the intent would be translated into actual purchase remains to be seen, he argued

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