- Amid rising coal demand from the country’s generation companies, CIL’s supplies to the power sector soared to a record 540.4 MT with a whopping 95.4 MT volume increase
- CIL produced 622.6 MT of coal, eclipsing the previous high of 607 MT recorded in 2018-19
New Delhi: State-run Coal India Limited (CIL) has ended FY22, scripting a historic high in coal production, offtake and coal despatch to power plants and is targeting to meet coal output and offtake of 700 MT in FY23, said CIL in a statement on Friday. “Amid rising coal demand from the country’s generation companies, CIL’s supplies to the power sector soared to a record 540.4 million tonnes (MT) with a whopping 95.4 MT volume increase. This represents 21.4 percent growth compared to 445 MT supplies of FY21,” said the statement.
Even compared to standard pandemic-free FY20 and FY19, the growth in supplies to the power sector logged 16 percent and 10 percent growth, respectively.
Coal offtake to power sector logs highest growth in 7 yrs: CIL
The sharp 95.4 MT supply expansion in FY22 is higher than the collective increase achieved during the previous seven-year period. Coal supplies to the power sector rose to 445 MT in 2020-21 from 353.8 MT in 2013-14, up by 91.2 MT.
“CIL has turned out a prolific performance, even as the second wave of Covid during the first quarter of FY, and the extended monsoon threatened CIL’s production and loading operations. Handling volatility of coal demand from the power sector in second half of the year was another challenge,” said the statement.
CIL registers coal production of 622.6 MT
CIL produced 622.6 MT of coal, eclipsing the previous high of 607 MT recorded in 2018-19. After a shrinkage in the last two years, CIL came back strongly with 26.4 MT production increase in FY22. Compared to 596.2 MT of FY21, the growth is 4.4 percent.
CIL’s total offtake, at nearly 662 MT, posted a sharp 15.3 percent growth during FY22. The volume expansion is a robust 87.4 MT compared to 574.5 MT of FY21. The annual increment of 87.4 MT total offtake is more than the combined rise of 85.1 MT of the last six years, from 489.4 MT in 2014-15 to 574.5 MT in 2020-21.
CIL’s average loading at the highest-ever level of 271.2 rakes per day grew by 12.3 percent compared to the average of 241.4 rakes loaded in FY21.
CIL has cleared 16 coal mining projects
With focus on production boost, CIL has cleared 16 coal mining projects of which seven are green field and nine are expansion projects. Combined, they have a total capacity of nearly 100 MT per year and incremental capacity of 56.7 MT per year. Of the identified 15 MDO projects, work order has been issued for five projects of 96 MT per year capacity during FY22, said CIL.
CIL, which began FY22 with 99.13 MT of coal stock at its pitheads could liquidate 38.4 MT of coal at the end of FY22, the highest liquidation for any year.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)