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By ONE Liners Agency
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By ONE Liners Agency
July 09, 2012
Coal India needs to revise its output target again, said coal minister Sriprakash Jaiswal. Earlier, the production target was scaled-down by the company. Now there is immense pressure from the industry in increasing the coal production.
The revision is in the offing is confirmed by Coal India chairman Narsing Rao.
Talking to the reporters he said, "Targets would be about production and off-take, and any revision has to be upwards obviously."
The previous scale down of Coal India was from 470 million tonne to 468.74 million tonne. In 2011-12 the company logged in 435.84 million tonne of coal production.
In the quarter of April-June Coal India has met 100 percent target of 102.46 million tonne. Despite 100 percent fulfilling the coal ministry is looking for increased production target.
At the Coal India part, the company is so far undecided whether to take the responsibility of extra production for meeting the domestic demand-supply gap.
Mr Rao said India is currently facing coal shortage of about 80-90 million tonne in the power sector and if the country import it and supply at the same price to the consumer then it won't be a big value addition.
By the end of this month a decision on contentious issue of fuel supply agreement (FSA) will likely be taken and 50 percent of power plants have signed it including NTPC. The July 10 board meeting of Coal India is expected to be finalising the revised FSA.
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