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CIL targets to produce 384.5 mn tn coal this year
Kolkata,
Apr
6:
The
Coal
India
Limited
(CIL)
has
planned
to
produce
about
384.5
million
tonne
of
coal
in
this
fiscal
with
an
investiment
of
Rs
2400
crore
as
demand
of
the
black
diomond
was
going
up
steadily
with
the
national
economy
doing
well.
The
demand
of
coal
will
touch
to
731
million
tonne
by
end
of
the
11th
Plan
period
(2011-12)
registering
an
annual
growth
rate
of
9.4
per
cent,
according
to
a
CIL
document.
It
said
the
production
of
coal
needed
to
be
enhanced
to
nearly
680
million
tonne
and
the
rest
51
million
tonne
will
have
to
be
imported
to
meet
the
demand
in
next
five
years.
CIL's
coal
production
reached
an
all
time
high
in
2006-07
when
it
produced
about
360.94
million
tonne
of
coal
registering
a
5.1
per
cent
up
from
the
previous
year.
The
company
also
made
higher
profit
(before
tax
and
dividend)
of
Rs
8212.69
crore
(provisional)
in
last
fiscal
against
the
target
of
Rs
7013.91
crore.
The
profit,
however,
for
the
year
was
Rs
464
crore
less
than
that
of
last
year.
CIL
had
made
a
profit
of
Rs
8676.72
crore
in
2005-06.
The
lower
profit
this
time
primarily
was
attributed
to
non-revision
in
coal
prices
which
inflationary
impacted
on
costs
that
remained
uncovered
and
imposition
of
stay
by
the
Supreme
Court
on
e-marketing
of
coal,
the
document
said.
UNI
