Coal India achieves 7pc growth

Coal India Limited (CIL), a state-owned coal company headquartered in Kolkata, has reported an overall growth of 7% this year, said a top official here on Monday.

Chairman of CIL, a Navratna company, Partha S. Bhattacharya said that there are huge challenges in front of the CIL now.

The confidence reposed on the company after the launch of their IPO has to be met and there are a lot of tasks ahead.

He was addressing at the 35th Foundation Day Ceremony of CIL in Kolkata .

Bhattacharya said: ?CIL has achieved an overall growth rate of 7% with 1.5% growth rate in coal production, this year.?

He however mentioned that the coal stock of CIL as on date stands at 48 MT is an overburden of 12% and needs to be reduced . He stated that the revised target of coal production by CIL is 468.5 MT this year.

C. Balakrishnan, Secretary (Coal), Government of India, said: ?For Coal India, after the hype and hoopla, now it?s time to perform.?

He underlined that in India, even with new and renewable energy and alternative energy, demand of coal for power will be there always.