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Coal India eyes 354 mt annual output from 118 projects

In a separate reply to the Upper House, Goyal said as per the report of the Working Group on Coal & Lignite for formulation of the Twelfth Five Year Plan (2012-17) production of coal, as per optimistic estimates was projected to reach 795 MT by the end of the Plan.

Against widening demand-supply deficit, the world's largest miner Coal India Ltd (CIL) is set to take up 118 projects envisaging 354 million tonnes per annum (MTPA) output in three years, Parliament was informed today. "CIL envisages taking up 118 projects for an ultimate capacity of 353.87 MTPA during the 12th five year plan.

The envisaged contribution in 2016-17 the terminal year of the 12th five year plan is 137.77 MT," Minister of State for Coal, Power, New and Renewable Energy Piyush Goyal told Rajya Sabha in a written reply. Goyal said these projects would be taken by seven subsidiaries of CIL. Besides, he said Singareni Collieries Company Limited (SCCL) will also take up nine projects for an ultimate capacity of 13 MTPA during the 12th plan. "The envisaged contribution in 2016-17 the terminal year of the 12th five year plan (by SCCL) is 4.04 MT," the Minister added.

CIL, which accounts for over 80 percent of the domestic coal production , has seven coal producing subsidiaries - Eastern Coalfields, Bharat Coking Coal, Central Coalfields, South Eastern Coalfields, Western Coalfields, Northern Coalfields and Mahanadi Coalfields. In a separate reply to the Upper House, Goyal said as per the report of the Working Group on Coal & Lignite for formulation of the Twelfth Five Year Plan (2012-17) production of coal, as per optimistic estimates was projected to reach 795 MT by the end of the Plan.

The group as per another estimate, i.e. "Business as Usual Scenario," projected production to reach 715 MT by 2016-17 including 100 MT from captive blocks, he said. The Minister said "the Optimistic Scenario was based on the assumptions about speedy development of coal evacuation, rail infrastructure and progress on environment and forest related clearances. The focus of the Government is to take all measures to facilitate increase in production of coal." Coal India stock price On July 08, 2014, at 12:26 hrs Coal India was quoting at Rs 391.25, down Rs 5.25, or 1.32 percent. The 52-week high of the share was Rs 423.50 and the 52-week low was Rs 238.35. The company's trailing 12-month (TTM) EPS was at Rs 23.76 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 16.47. The latest book value of the company is Rs 56.24 per share. At current value, the price-to-book value of the company is 6.96.

Source: Moneycontrol