Some slippage likely in production in Oct-Dec: CIL

Coal India today indicated that its production during October-December period may see some slippage as Nilam cyclone and festivals impacted the mining activity in November. "October was extremely good. But, November has been damp, thanks to first eight-nine days Nilam cyclone (which) had a very devastated effect and then festivals etc," Coal India Chairman S Narsing Rao told reporters on the sidelines of a coal summit here when asked about the likely output in the third quarter.

"Today, we are not as comfortable as we likely to be," he added. The state-run firm, which enjoys a near monopoly in the country's coal production, had set 125 million tonnes production target for October-December quarter of the current fiscal. During the April-October period, Coal India's production grew by nine per cent at 208.3 million tonnes over the same period last year. Coal India has set a target to produce 464 million tonnes production for the current fiscal. Last fiscal, it had produced 435.84 MT and envisages to take its production to the level to 615 MT by 2016-17, the terminal year of the 12th Five-Year Plan.

Meanwhile, asked about the possibility of meeting the November-end deadline for inking the fuel supply agreement (FSA) with power firms, Rao evaded any direct answer and said that the onus is on the power firms and not on CIL. "You have to ask them who want to sign the contract. We have kept the final approved version since October 13 open in the website," Rao said. Rao said  the company had started exploration in a coal block in Mozambique twelve days back and this would likely to be completed by the end of next year.

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