Coal news and updates

SCCL eyes record production growth of 14% in 2015-16

India Coal Market Watch

December 10: Buoyed by the brilliant production performance so far this year, Singareni Collieries Company Ltd (SCCL) is targeting to achieve a 14.3% growth in production in 2015-16, the highest in at least 10 years, according to a senior company official.

“At present, we are targeting to cross 60.03 million tons (mt) of production this year. There are four months to go and we are confident of achieving this number,” the official told ICMW.

For the first eight months (April-November), SCCL has reported total production of 37.50 mt, an annual growth of 24.38%. To achieve 60.03 mt, the company needs to produce 5.6 mt in each of the remaining four months (December-March), he said.

“The top management, led by the chairman, is regularly conducting departmental meetings and monitoring the performance. All facilities are being provided to ensure that the target is achieved,” the official said.

Coal production during April-November, 2015 was 108% of the target of 34.66 mt set for the period.

Earlier, SCCL achieved a double digit growth of 13.2% in coal production in 2009-10, but faltered in the following years, witnessing a 5% drop in 2013-14. The company reported a 4.1% growth in output last year.

The miner is also focusing on achieving high growth in despatches, which stood at 38.10 mt during April-November, 2015, an increase of about 13.77% over 33.49 mt achieved in the same period last year. Coal despatches during April-November, 2015 were 108% of the target of 35.16 mt set for the period under consideration.

“The top management is looking into providing adequate logistics support so as to ensure quick uplift of the material. We are quite hopeful about reaching the targets,” he added.