Coal news and updates

CMPDI hopes to achieve 11 lakh meter drilling in FY16

India Coal Market Watch

 December 02: The Central Mine Planning and Design Institute (CMPDI) expects to achieve total drilling of around 11 lakh metres in the current financial year (2015-16), a senior official told ICMW.

 In the current year, we expect to end up with total drilling volumes of 10.5-11.0 lakh metres, compared to 8.28 lakh metres achieved last year,” the official said.

 While the expected drilling performance would fall below the yearly target of 15 lakh metres, it will show an impressive growth of 25-30% year-on-year, he said. This would surpass the growth of 19% achieved last year.

 Noting that yearly targets are rather stretched, the official said, the drilling volumes in the last eight years have shown a high compound annual growth rate of 22%.

 Earlier, in 2013-14, CMPDI had achieved total drilling of 6.97 lakh metres, about 23.8% higher than 5.63 lakh metres drilled in 2012-13.

During the first seven months (April-October) of the current year, CMPDI has achieved total drilling of 5.44 lakh metres, a growth of 39% year-on-year.