Coal India production target set 4% higher at 482 mt

The Coal Ministry has set a production target of 482 million tonnes for Coal India Ltd (CIL) for 2013-14. This is four per cent higher than the production target of 464.1 mt set by the nodal Ministry for the State-owned miner in 2012-13.

The offtake target for 2013-14 has been set at 492 mt, almost five per cent higher than the 2012-13 target of 470 mt, said an official statement.

CIL, on Friday, signed a memorandum of understanding with the Coal Ministry for its key performance areas for 2013-14.

The company would require a growth rate of 7.11 per cent to meet its production target and 5.80 per cent to meet the offtake target next fiscal.

>shobha.roy@thehindu.co.in