CIL lowers production target as late clearances delay projects

Image
Press Trust of India Kolkata
Last Updated : Jan 21 2013 | 1:24 AM IST

State-owned Coal India Ltd (CIL) has revised its production target to 486 million tonnes (mt) from 520 mt by 2012 as delay in getting environment and forest clearances for some of its projects have affected production, company chairman Partha S Bhattacharyya has said.

"In the mid-term appraisal, the company's production target has been revised to 486 mt from 520 mt by 2012," he said.

As many as 17 projects, both big and small involving production of 101 mt, were delayed due to long wait in getting clearances from the environment and forest ministry, Bhattacharyya told reporters here last night after the press conference to announce the Asian Mining Congress to be held here from January 22.

Bhattacharyya said if CIL received environment and forest clearance for those projects now, the company would still be able to produce 47 mt of coal in the remaining two years.

He said normally, it should take 300 days for a project to get clearance, but it took about five years to receive such clearances.

There should be an integrated approach for both forest and environment ministries to give clearance and a proper policy should be formulated for this purpose.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 18 2010 | 2:45 PM IST

Next Story