Coal news and updates

Production shortfall costs SCCL Rs 170 crore in Apr-Aug

September 13: Production shortfall at Singareni Collieries Company Ltd (SCCL) vis-à-vis the target has resulted in the loss of revenues of around Rs 170 crore for the period April-August, 2013, a company source told ICMW.
The company has missed the monthly production targets for all the months during April-August, 2013. The total production this fiscal (April-August) stands at 16.6 million tons (mt), about 2.9 mt less than 19.5 mt targeted for the period. This is also less than 19.2 mt recorded for the same period last fiscal.
"The lower than targeted production has caused a loss of Rs 170 crore in revenues till August," the source said.
The shortfall in production was caused by delay in tendering, land acquisition and operational issues, among others, the source said.

Production is also likely to be affected in September due to the 3-day strike call by the unions which will result in a loss of at least 100,000 tons of production per day, he added.