Coal India has said that it has missed its annual production target by 44.48 million tonnes (MT) as it produced 554.13 MT of coal by the end of 2016-17 against a target of 598.61 MT.
According to provisional data, the miner also missed its off-take target for 2016-17 by 55.45 MT.
Against a target of 598.61 MT, its off-take for the last financial year (FY) was at 543.16 MT — up 1.6 per cent over the off-take for 2015-16. The miner achieved 93 per cent of its annual production target for the last FY, achieving a 2.9 per cent growth over its production in 2015-16.
“The production was impacted due to rehabilitation and resettlement issues along lower dispatch which have been noticed in the entire year,” a Coal India official said.
At the beginning of 2016-17, Coal India's Chairman Sutirtha Bhattacharya had said that going forward, the miner needed to step up to a double-digit growth rate in order to meet the production target.
