Breaking News

You are here » Indian-Commodity  :  Corporate  :  Coal India anticipates slippage in production for Oct-Dec period

20-Nov2012

Coal India anticipates slippage in production for Oct-Dec period

Coal India (CIL), the world's largest coal producer, anticipates some slippage in the coal production for October-December period. This slippage foreseen by the company is on account of Nilam cyclone and festivals, which impacted the mining activity in November.

Coal India had set 125 million tonnes (MT) production target for October-December quarter of the current fiscal. The state-run firm, which enjoys a near monopoly in the country's coal production, has reported 9% growth during the April-October period which stood at 208.3 MT compared to the same period last year.

For the current fiscal, the company has set a target to produce 464 MT. Last fiscal, it had produced 435.84 MT and envisages taking its production to the level to 615 MT by 2016-17, the terminal year of the 12th Five-Year Plan.

Besides twelve days back, the company has started exploration in a coal block in Mozambique and this is likely to be completed by the end of next year.


Related News

View all news

Maruti Suzuki plans to launch its first ever LCV in FY16

Despite declining sales in the segment, Maruti Suzuki, India's biggest car maker, is planning to launch its first ever light commercial vehicle (LCV) during the ongoing financial year. The company will......

Bharti Airtel unveils Wi-Fi application 'Hangouts'

Bharti Airtel has launched a Wi-Fi application -- Hangouts -- to shift data traffic away from the cellular network to help decongest it and improve services. The apps require a one-time sign-in and can......

VHCL Industries launches new product 'Valpol XE'

VHCL Industries has successfully developed and tested a new product, Valpol XE, a new generation recycled compound, designed for use in HDPE Pipes. This material is compatible for use in various sizes......

Top News

View all news

Near-term growth prospects remain favourable in India: IMF

International Monetary Fund (IMF) in its report 'Global prospects and policy challenges', meant for the G20 meeting of finance ministers in Ankara has stated that near-term growth prospects remain favourable......

HDFC Bank, ITC, Infosys and Syngene International to see some action

HDFC Bank, India's second largest private bank, cut its base rate by 35 basis points to 9.35%, from the existing 9.70 percent, thereby making loans from the bank cheaper. Earlier in June, the bank had......

RBI governor finally buzzes to the demand, hints at rate cut

Reserve Bank of India (RBI) Governor Raghuram Rajan finally hinting for a rate cut has said that inflation has come down to the comfort zone quicker than expected and he is keeping a watch on......