Coal India's production falls marginally in October

Coal India Ltd (CIL) on Tuesday reported a marginal fall in its production in October to 43.51 million tonnes (mt) compared to 44.37 mt produced in the corresponding month last year.

According to provisional data, its off-take for the last month stood at 43.04 mt, down marginally from 44.41 mt from in the year-ago month.

During first seven months of the current fiscal, Coal India's production was at 273.57 mt against a target of 307 mt. During this period, the miner's production also fell by a meagre 0.1 per cent compared to 273.91 mt produced in the corresponding period last year.

CIL on Tuesday also said that Indian Oil Corporation Ltd (IOCL), Fertiliser Corporation of India Ltd (FCIL) and Hindustan Fertiliser Corporation of India (HFCL) joined in the joint venture which was formed by the coal miner and National Thermal Power Corporation to revive Sindhri and Gorakpur urea units of Fertiliser Corporation of India.

This joint venture (JV) will also revive the Barauni unit of HFCL and it (JV) will have a revised shareholding pattern.

"In the joint venture agreement, CIL, NTPC and IOCL each will hold 29.67 per cent shares and FCIL and HFCL together will hold the remaining 10.99 per cent shares," the miner said in a regulatory filing to BSE.

--IANS

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