Kolkata, Apr 5: After posting a record profit of Rs 9576 crore for 2007-08 as against Rs 8522.22 crore in 2006-07, Coal India Limited (CIL) plans to produce 520.5 million tonne coal by the end of the Eleventh five-year plan. Announcing this, CIL Chairman Partha B Bhattacharya said the growth of 160 million ton (44.2 per cent) over the next five-year period would translate into an annualised growth of 7.6 per cent as against 5.4 per cent achieved during the Tenth plan period.
The CIL achieved a production level of 379.4 million tonne in the last fiscal, higher by 18.5 million tonne (growth of 5.1 per cent) over the previous year, he added. However, he said first half of the year witnessed a major constraint for law and order problem in the Central Coalfield Limited (CCL) and Mahanadi Coalfields Limited (MCL). Mr Bhattacharya also attributed the growth constraint to unprecendented rainfall, non-availability of forex clearance, land problem, particularly in Jharkhand, resulting in a meagre growth of 0.82 million ton (0.7 per cent) in the first half of 2007-08.
However, the eight coal companies under the CIL geared up in the second half of the last fiscal and achieved the growth of 17.76 million tonne (8.7 per cent), greater than the asking growth rate of the Eleventh plan.