CIL seeks more railway rakes

KOLKATA 23 MARCH: State-run Coal India Limited (CIL), the world’s largest coal miner, has sought more rakes from the Indian Railways to meet the targeted off-take of 492 million tons of the fuel in the next financial year.
“To attain the targeted off-take for excellent rating, CIL has sought 212.2 railway rakes per day, on an annualised basis for 2013-14 against the average availability of 167.7 rakes during 2011-12 and about 184 rakes during 2012-13,”  according to a Coal India Press release here today.
“Average growth of coal movement through rail was around 5.21 per cent during the last four years whereas CIL envisages a growth of around 8.67 per cent through rail for achieving the above target,” it said.
The coal behemoth on Friday signed a memorandum of understanding (MoU) with its administrative ministry, the ministry of coal, for its key performance areas for the fiscal year 2013-14.
Coal ministry secretary SK Srivastava and CIL chairman S Narsing Rao signed the document in Delhi.
According to the memorandum, for the next fiscal the coal ministry has fixed coal production and off-take targets of 482 million tons and 492 million tons respectively against the previous year’s coal production and off-take target of 464.1 million tons and 470 million tons respectively.
Coal off-take has gone up by about 32 million tons as of 20 March over the corresponding period last year, while total increase in production of coal over last year was about 18 million tons.
The required growth rates for achieving coal production and off-take targets of 2013-14 are about 7.11 per cent and 5.80 per cent respectively, the coal miner said.