State-run Coal India NSE 2.34 % has posted a 5.6% rise in production and 6.2% growth in offtake in the first two months of 2012-13, bringing some cheer to power firms that have been grappling with fuel shortages.
It produced 69.38 million tonne coal during April and May, about 1% more than its target, chairman Narsing Rao told ET. The production growth in the year-ago period was 3.6%.
“We are keeping a strict vigil on production and offtake,” Rao said. “Our officials are interacting with railways on a daily basis to make sure that adequate rakes are available for evacuating the mined coal.”
He said Coal India’s stocks have gone down by 7mt during the two months. The company had stocks of 70.88 million tonne on March 31.
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