BCCL suffers from grim financial health: CMD

Bharat Coking Coal Ltd (BCCL) cannot be saved if coal production was not significantly increased immediately, a top official said today.

Till September, in the current financial year, the company suffered a loss of Rs 546 crore, BCCL Chairman and MD Gopal Singh today said while talking to reporters after reviewing status of the company at the headquarters here at Koylanagar.

He, however, noted that the BCCL had registered a 7 per cent growth in production of coal and 7.2 per cent growth in its dispatch.

The Ministry of Coal has given the BCCL a target of around 36.2 million tonnes of coal production in 2016-17, and so far 25 million tonnes of coal had been extracted till December, he said.

“The company is in dire straits and can be brought on track only with the hard work of all sections of employees,” he added.

Singh, who is also Chairman—cum—MD of the Central Coalfield Ltd (CCL), also announced a scholarship programme for students of Dhanbad and engineering competition coaching facilities on the pattern of CCL Ranchi.