Coal India upbeat on offtake, output

Coal India Ltd expects to close April-December with eight per cent growth in off-take (coal despatched to consumers) to 335 million tonnes. Production is likely to reach 310 mt, up by six per cent compared to the same period last year. Higher despatches resulted dilution of the company’s historic 71 mt pithead stock by 25-26 mt. Overall supplies improved by nearly 24 mt – capable to fuel roughly 6,000 MW additional power generation capacities – during this fiscal. The company is targeting 37 mt increase in supplies, to fuel 9,000 MW additional capacities, during 2012-13. During the October-December quarter, production is estimated to reach 119 mt. “Production growth remained slower than expected during the quarter due to untimely rains and festive holiday’s in November,” an official said. Offtake, however, continued to grow as railways have stepped up wagon availability. The average wagon availability during December rose to 200 a day against 187 a day in the same period last year.