CIL hopes coal demand will expand in 2017-18
Coal India was able to cross its output target for March, achieving 104% output at 66 million tonnes
Coal India hopes that with national electricity generation rising by 4.7 per cent and prediction of early summer there would be higher coal demand.
Coal India sources said, "coal demand was depressed but now scenario is changing with revival in generation.
Prediction of early summer also raised hope for high power demand and the miner would continue high production momentum."
"All India generation grew to 1153831.4 million units in 2016-17, a rise of 4.7 per cent over previous fiscal," a source said. Coal India was able to surpass its production target for the month of March 17' achieving 104 per cent at 66.07 million tonnes. While, offtake remained subdued to 52.30 million for the month at 90 per cent of the target.
Coal India missed the annual production target by 44.48 million tonnes against a target of 598.61 million tonne and its off-take target by 55.45 million tonne for 2016-17 from its target. The world's largest coal miner said in 2016-17 as whole the average rake loading per day was 221.8 compared to 212.8 rakes/day during last financial year registering a growth of 4.3 per cent. Increase in absolute terms was 9 rakes per day for the year.
Coal India had earlier said that plants had higher coal inventory at their yards.