MCL witnesses a 14% rise in coal, producing 168 mt in FY21-22
COAL & MINING

MCL witnesses a 14% rise in coal, producing 168 mt in FY21-22

Mahanadi Coalfields Limited (MCL) told the media that it had produced 168 million tonnes (mt) of coal in FY21-22 and recorded 14% growth over the previous fiscal year.

The company said it had set new milestones in all the performance parameters, including coal production, despatch and overburden removal (OBR).

Chairman and Managing Director of MCL, O P Singh, said that MCL's coal production had been 103% of the target at a record 168.17 mt for FY22.

He said that the company had dispatched 176.17 mt of coal to the consumers, up by 21% over the previous year.

He added that MCL had registered a growth of over 18% in OBR at 207 million cubic meters, increasing the coal production this fiscal year.

MCL had been meeting the rising demand for coal during the third quarter (Q3) of FY21-22, despite the Covid-19 pandemic challenges.

Singh said that the coal demand would continue to remain high in the coming future. The company has set a target to produce 176 mt of coal in FY22-23.

He said that the company is keeping an eye on the erratic rainy season and other operational challenges of the coal sector to meet the rising demand by producing more coal.

The company has a capital expenditure of Rs 3,805 crore during the last financial year, which would help in meeting future goals.

It is the largest coal-producing company in India, having its mining operations in the Sundergarh, Jharsuguda and Angul districts of Odisha.

Image Source

Mahanadi Coalfields Limited (MCL) told the media that it had produced 168 million tonnes (mt) of coal in FY21-22 and recorded 14% growth over the previous fiscal year. The company said it had set new milestones in all the performance parameters, including coal production, despatch and overburden removal (OBR). Chairman and Managing Director of MCL, O P Singh, said that MCL's coal production had been 103% of the target at a record 168.17 mt for FY22. He said that the company had dispatched 176.17 mt of coal to the consumers, up by 21% over the previous year. He added that MCL had registered a growth of over 18% in OBR at 207 million cubic meters, increasing the coal production this fiscal year. MCL had been meeting the rising demand for coal during the third quarter (Q3) of FY21-22, despite the Covid-19 pandemic challenges. Singh said that the coal demand would continue to remain high in the coming future. The company has set a target to produce 176 mt of coal in FY22-23. He said that the company is keeping an eye on the erratic rainy season and other operational challenges of the coal sector to meet the rising demand by producing more coal. The company has a capital expenditure of Rs 3,805 crore during the last financial year, which would help in meeting future goals. It is the largest coal-producing company in India, having its mining operations in the Sundergarh, Jharsuguda and Angul districts of Odisha. Image Source

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