Tuesday, August 16, 2022

CMD NCL has got his eyes set on this record

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Singrauli: PK Sinha, CMD, Northern Coalfields Limited has got his eyes set on a record that the PSU has been raring to achieve in the current fiscal year. In a press meet organised by NCL, the CMD said that the coal PSU will create a record in the current financial year (2019-20) by fulfilling its 106.25 Million Tonnes of coal production as well as dispatch targets. He said that the previous financial year (2018-19) has been a proud year for NCL in which the company became the third company of Coal India Limited that produce more than 100 million tonnes of coal annually. CMD spelt out targets in a detailed interactive session with media at NCL headquarters on June 1, 2019. Along with Sinha, Gunadhar Pandey, Director (Technical & Operations), P. M. Prasad, Director (Technical, Project and Planning) and Director (Finance and Personnel) N.N. Thakur was also present at the session.

2019 saw new heights, 2020 will exceed

Referring to NCL's accomplishments, Sinha said that in the last financial year (2018-19), the company produced 101.50 million tonnes of coal and dispatched 101.60 million tonnes of coal which not only exceeded the assigned targets but also became the highest ever production and dispatch figures ever touched by the company in its history. The company recorded an increase of 9 percent in coal production and more than 5 percent in despatch compared to the previous financial year. The company supplied 88.52 million tonnes of coal to the powerhouses.

Throughout the year, powerhouses had surplus coal and no instance of powerhouses running in the critical or supercritical stage was recorded. The company also made the highest despatch ever through the railways with an average of around 25.50 rakes supply per day. He also said that in the initial two months (April and May 2019) of the current financial year (2019-20), the company has produced 17.59 million tonnes of coal and during this period the company's coal dispatch remained at 17.04 million tonnes. During the period, the coal production and dispatch of the company are in line with assigned targets and approximately 7 percent and 3 percent more than the corresponding period of last financial year.

Capex for 2020 will be Rs 1235 Cr

Sinha specifically informed that in FY19 the company had spent Rs 1150 crore as capital expenditure. For the current fiscal NCL has set a target of Rs 1235 crore for capex. He also said that the company has recorded a proportionate decrease in the transportation of coal by road, and the company's best efforts are to reduce it further. He said that increase of coal dispatch to NTPC through MGR as a result of commissioning of new wharf walls at Nigahi and Amlohri, connecting of new CHP of Block-B with rail line, construction of new CHP of 15 million tonne at Jayant and 10 million tonne at Dudhichua along with doubling and electrification of the railway line will reduce the transportation of coal by road in time to come.

Speaking about NCL's contribution towards corporate social responsibility he said that in the last financial year, the company spent about Rs. 74 crores on the works related to CSR, which is almost double the expenditure in the financial year 2017-18.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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