PSU NEWS
MCL targets 167 mt production in 2016-17
After emerging the number one coal producer in the country by producing a record 137.9 million tonnes (mt) of coal in 2015-16, Mahanadi Coalfields Ltd (MCL) said it has set a target of 167 mt in 2016-17.
"MCL has produced 137.90 mt coal in 2015-16 against 121.38 mt produced last financial year registering a growth of 13.61 percent. We have set a target of producing 167 mt in 2016-17," said MCL chairman and managing director A.K. Jha.
MCL has contributed 39 percent to the growth of Coal India Limited (CIL), but both MCL and CIL have missed the coal production target. CIL produced 536.5 mt against the target of 550 mt and MCL went up to 137.9 mt against the target of 150 tonnes.
"We could not meet the target due to delay in getting clearance for certain coal projects and other law and order problems," said Jha, adding that a provisional sum of Rs.9,974.49 crore would go to the exchequer that includes Rs.2,585 crore to the Odisha government and Rs.7,388 crore to union government following the production growth.
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