Coal India set FY2017 growth target of 11.11%

Coal India has been set a target of producing 598.61 million t in the 2016 – 2017 (FY2017) financial year, according to a written reply from Piyush Goyal, the Minister for Power Coal, New & Renewable Enery and Mines, to a question from the Rajya Sabha, the upper house of the Indian Parliament.

This will require an increase of 11.11% on FY2016 production of 538.57 million t, Goyal said. The FY2016 production just missed hitting Coal India’s target of 538.75 million t.

Goyal added that coal imports fell from 217.8 million t in FY2015 to 199.99 million t in FY2016. Coal stocks at power plants remain at an elevated level, growing slightly in July to 31.39 million from 30.51 million t at the end of June.

This slight rise bucks a trend seen so far this year of falling coal stocks. At the end of FY2016, coal stocks were 38.87 million t, the highest levels seen over the last four years.

A stockpile of 31.39 million t is sufficient to operate India’s coal-fired power plants for a period of 23 days – two days more than the “normative stock requirement” of 21 days, said Goyal.

Edited by Jonathan Rowland.

Read the article online at: https://www.worldcoal.com/mining/25072016/coal-india-set-fy2017-growth-target-of-11-percent-2016-2071/