New Delhi: Northern Coalfields Limited (NCL), the flagship subsidiary of Coal India Limited (CIL), has produced a record-high 122.43 million tonnes of coal production with 6.42 percent y-o-y growth against the target of 119 million tonnes. Meeting the steep demand of coal consumers, NCL has sent 125.66 million tonnes with a remarkable 15.66 percent growth to its coal customers.
NCL’s CMD Bhola Singh and functional directors have congratulated the team NCL for the golden moment and surpassing the magical figure of 122 million tonnes of coal production and 125 MT coal dispatch in the financial year 2021-22. NCL CMD dedicated this outstanding feat to the untiring and unwavering effort of NCL’s employees and the unconditional support of stakeholders. He stated that this glorious achievement is a reflection of the integrated sense of responsibility of the NCL family towards the nation for self-reliance in the energy sector amid trying times and need of hour along with sustainable mining.
In the fiscal year 2021-22, when the power demand was soaring, NCL tightened its belt and sent 88 percent of total annual coal dispatch to powerhouses with splendid 17 percent Y-o-Y growth.
Giving impetus to eco-friendly coal dispatch, NCL sent about 82 percent of total coal through rail, MGR, and Belt Pipe Conveyor Mode. The company has seen phenomenal growth of 13.6 percent in coal supply to upcountry consumers through rail mode.
In an estimated figure NCL has spent about Rs 1700 crore in capital expenditure which is 120.5 percent of the MoU target majority of which accounted for the development of First Mile Connectivity (FMC) projects, HEMMs, and Land acquisition. The company is working on nine FMC projects with an investment of Rs 3174 crore, till March 2022 NCL has spent Rs 1220 crore. Completion of these nine projects will pave the way for an incremental 55 MT of coal dispatch through an eco-friendly mode.
NCL is a coal mining giant operating in Singrauli and Sonbhadra districts of MP and UP, from 10 advanced mechanized open cast coal mines.
(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.)