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According to company sources, Coal India Ltd. is expected to achieve an output of over 773.7 million tonnes (MT) for the 2023–24 fiscal year, which will be nearly a 10% increase over the previous year. It is anticipated, nevertheless, to fall short of the 780 million tonnes target.
Coal offtake is anticipated to stay restricted to 753 million tonnes, nearly 90% of the target of 780 million tonnes, they said. The miner will announce its production and offtake numbers later.
The company's dry fuel supplies to thermal power plants touched the 610.8-million tonne mark last week, surpassing the target for this sector. Coal India Chairman P M Prasad in a recent investor concall projected a shortfall in the wake of some land-related production hurdle in South Eastern Coalfields Ltd. All other subsidiaries, however, topped its targets.
The largest coal producer in the world registered its highest-ever production of 703.2 MT in the 2022-23 fiscal. The target for the next fiscal year has been fixed at 838 MT, the sources said. According to projections, demand for coal is likely to go up from 1,180 million tonnes in 2023-24 to 1,464 million tonnes in 2029-30.
Also Read : Coal India expects to produce 838 MT for FY25; power sector to get at least 79% of it NTPC reaches over 100 MT coal production from captive mines
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