Coal import by domestic thermal plants declines
This demonstrates an increased reliance on domestic coal supplies for these sectors
Coal India Ltd has revised its production target down to 650-660 million tonne for FY 2020-21 in the wake of the disruptions caused by the COVID-19 pandemic, an official said on Saturday. The miner had earlier set a production target of 710 million tonne for 2020-21 fiscal.
On August 3, the coal major posted a 3 per cent decline in production to 37.36 million tonnes in July 2020. Earlier, the numbers stood at Rs 38.51 million tonnes for the same period a year ago.
According to Pramod Agrawal, Chairman and Managing Director, Coal India, “COVID-19 pandemic has affected demand for coal. However, demand has started to pick up now as the industries have commenced operations.”
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“Given the situation, we are hopeful to end the year with 650-660 million tonne of production,” he said at a webinar organised by Bharat Chamber of Commerce.
The miner is witnessing a 7-8 per cent growth in demand in August, he said.
The Maharatna PSU had produced 602 million tonne of coal last year as against a target of 630 million tonne.
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