Amid concerns that Coal India Ltd (CIL) may fall short of its 660 million tonne (MT) production target for the current fiscal, the miner has planned to ramp up daily output to meet the goal, officials said. Till December, the miner is expected to produce close to 390 MT of coal and will require another 270 MT in the last quarter of this fiscal to meet the annual production target. Currently, Coal India produces 1.8 MT per day while the asking rate to achieve the target is 2.9 MT, they said. CIL officials said the coal offtake was at 410 MT till December 27, 2019 as against a target of 467 MT. In October, a rating agency had projected that the coal behemoth might miss the production target by 50-75 MT in the current fiscal.

Source: Mint December 29, 2019 11:26 UTC