CIL targets 520 mn ton coal production

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Kolkata, Sep 15: Coal India Ltd (CIL) Chairman Partha S Bhattacharyya today called for speedy decision-making process to enable the company produce 520 million ton of coal by the end of 11th plan.

Addressing a vendors' meet here, the CIL chief said to achieve the desired energy security, the country's demand for coal would be to the tune of 730 million ton in 2011-12 against 474 million ton in 2006-07.

The CIL with a turnover of Rs 36,000 crore and pre-tax profit of Rs 8,500 crore in the last fiscal had produced 361 million ton of coal, meeting about 85 per cent of the country's demand.

The CIL would face a new challenge to enable the country sustain the GDP growth set at an average of 8.5 per cent for the 11th five year plan, Mr Bhattacharyya said.

The CIL is expected to produce 520 million ton of coal by the end of 11th plan, which called for an addtional prodcution of 159 million ton in a span of five years and an annualised growth rate of 9.7 per cent.

To achieve the target, the CIL envisaged to take up 119 new proejcts with an ultimate capacity of 283 million ton during this period, he added.

Mr Bhattacharyya called for speeding up the decision-making process and harped on good relation among the stake holders so that undue delay was avoided.

He said the conducts of some of the vendors during and after the biddig process were not conducive to a healthy business relation.

" If you do not like terms and conditions, please do not bid. But do not put undue pressure on CIL's decision-making process, " warned the Chairman.

UNI

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