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Likely to meet production target of $1b ton by 2019: CIL chief

Though Bhattacharya appeared positive but maintained that it will be too early to predict the production level at this point of time, when he took over on January 5 itself.

State-run Coal India's (CIL) newly appointed chairman; Sutirtha Bhattacharya has ambitious plans for the company in the forthcoming period of 4-5 years. In an exclusive interview with Economic Times, Bhattacharya revealed some of his views on meeting $1 billion tonne of coal production target set for the company. Though Bhattacharya appeared positive but maintained that it will be too early to predict the production level at this point of time, when he took over on January 5 itself.
 
Production expansion at existing mines
 
Coal India currently produces 500 million tonne of coal, while the target of $1 billion tonne seems possible by 2019, according to Bhattacharya. He said that scaling up production at existing mines, liaison with the railways in order to help evacuation and raise the interaction with customers are some of the steps to be taken. He said that the company would no shy away in taking help of either or both Centre and State governments or request change in regulations, as and when required. The goal is to create an enabling environment, said Bhattacharya. Further, Bhattacharya plans to develop a tech cell consisting of professionals from law, finance and other related areas, to help minimize the legal hurdles involved in inviting bids.
 
Change in regulations
 
Bhattacharya said that Coal India could no longer ignore the underground mining necessity. In this direction, a special task force headed by the Director Technical, is set to be formed. The task force will be responsible to recommend on needed technologies and blocks, where underground mining could be undertaken. He stressed that even the company would keep the Director General of Mines Safety in loop if there are any alternations in regulations required. The company will explore eco-friendly technologies from Poland and other countries apart from the current US and Australia technologies.
 
In the end, Bhattacharya expressed the need for increasing capacity so as to address the constraint issues. He said that the procurement process demand streamlining while the electronic procurements methods need to be introduced.

Source: IIFL