CIL production, offtake to fall short by 8-10 MT in FY14: CMD

World's largest miner Coal India today said production and dispatches for this fiscal is likely to fall short by 8-10 million tonnes from the target.

"As on date (April, 2013-February 27,2014) our production is at 409 million tonnes and offtake is at around 420 million tonnes," CIL Chairman and Managing Director Narsing Rao said after a board meeting here today.

"For the full year (April-March) our production and offtake is expected to be around 8-10 million tonnes (MT) lower than the target," he added.

The coal miner had set a production and offtake target of 482 MT and 492 MT, respectively for the current fiscal.

In the Q3 period till December, the shortfall was 17 MT.

Asked whether the shortfall gap has narrowed, Rao replied in the negative.

The miner accounts for about 80% of the coal produced in the country and has been struggling to meet its 2013-14 production and offtake target.

In 2012-13, Coal India had failed to achieve its production target of 464 MT and produced only 452 MT that year. The offtake of 465 MT was also lower than the target of 470 MT.