CIL Sees Slower Future Growth

Thursday, 25 August 2011 09:27

Coal India Ltd. is set to register an average annual growth rate of 4.3% during the current Five Year Plan period, which ends in March 2012. This would be the second lowest growth rate in the last seven Plan periods since the beginning of the Fifth Plan in 1974. According to Business Standard, the lowest production growth was registered in the Ninth Plan when an unprecedented slowdown in industrial growth had pulled down the demand for coal. Coal India’s production grew 5.1% to 379.4 million metric tons (mt) in 2007-08, the first year of the current Plan period. The output grew by 6.4% to 403.7 million mt in the second year and 6.8% to 431.3 million mt in the following year. Production remained flat in the fourth year (2010-11). For the current financial year, CIL has projected a production growth rate of 3.6% to 447 million mt taking the projected average annual growth rate during the five year period to 4.3%.