(ET)
Coal India is likely to produce 600-610 million tonnes and sell 590-600 million tonnes this year, about the same as last year, company executives said. The company needs to raise output by 400 million tonnes to meet its target of 1 billion tonnes by 2024. This requires its compounded annual growth rate to accelerate to 14 per cent from the much slower 3.1 per cent it achieved in the past four years.
“This would be a mammoth task, requiring extensive planning and synchronisation by Coal India and various central and state departments including railways. The company will also require speedy environment and forest clearances to enhance production and meet targets,” a Coal India executive said.
This year till February, it produced 517 million tonnes and sold 528 million tonnes, falling 1.9 per cent and 3.7 per cent respectively from the previous corresponding period. Executives expect production in March to be 80-90 million tonnes while sales would be 60-65 million tonnes.
