Coal India chairman says, company set to meet 700 MT production target of FY23

28 Dec 2022 , 09:28 AM

Coal India‘s Chairman Pramod Agrawal expressed confidence on Tuesday that the PSU is well poised to meet its production target of 700 million tonnes for the current fiscal year.

Coal India (CIL) produces more than 80% of domestic coal.

Agrawal addressed a virtual team of CIL-arm MCL officials, congratulating them on achieving a 15.9% increase in coal production over the target of nearly 19 million tonnes.

‘There will be an enormous market for coal from Coal India, and MCL, which is successfully supplying about 435,000 tonnes of coal daily to the power sector, will have to boost its contribution,’ Agrawal said, predicting that power demand will rise in the coming days.

At around 9.17 AM, Coal India was trading at Rs221.60, 0.16% higher than the previous close of Rs221.25 on NSE. The counter hit an intraday high and low of Rs222 and Rs220.55 respectively.

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