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ECL tops production, offtake among Coal India subsidiaries

Eastern Coalfields has topped among the eight subsidiaries of Coal India in terms of production and offtake targets for the year 2014-15.

According to provisional data released by Coal India, Eastern Coalfields (ECL) has achieved a production of 40 million tonnes (MT) or 105 per cent of the target of 38 MT set for the fiscal 2015, registering a growth of 11 per cent over the previous year.

Two more subsidiaries, Bharat Coking Coal (BCCL) and Central Coalfields (CCl), had surpassed their respective production targets for the year.

Production at BCCL was at 34.51 MT or 102 per cent of the target, while CCL touched 101 per cent of its targeted production to 55.64 MT.

Rest of the subsidiaries failed to meet the target and remained short by 2 to 6 per cent except North Eastern Coalfields, which had less than 1 MT production.

The cumulative Coal India production for FY15 was 494.23 MT, a growth of 6.9 per cent over the last year, but 97 per cent of its target of 507 MT.

While, on the offtake front, ECL remained at the top with 38.45 MT or 101 per cent of the target or 6.1 per cent growth in FY15, the rest of the subsidiaries fell short by 4 to 8 per cent in their respective offtake targets, the CIL data said.

The total offtake target for Coal India was 520 MT, but it could meet 489.34 MT or 94 per cent. The offtake growth in FY15 was 3.8 per cent over 2013-14.

source: http://economictimes.indiatimes.com