Kolkata: Ramping up output and improving profitability will be the top-most priorities for state-run Coal India's new Chairman Sutirtha Bhattacharya, although he admits that the coal production target of 925 million tonnes by 2019-20 is a huge challenge.
"For any commercial business entity, what matters most is the bottom line. I intend to steer the company with a three-pronged agenda," Bhattacharya said. "Coal India's major challenge is to meet the rising demand from the power sector. The company is doing its best to see that power utilities in the country do not suffer for want of coal," Bhattacharya said.
Bhattacharya took charge as CIL chairman yesterday, a day before a five-day strike began in the coal industry. "There is no single silver-bullet solution to the challenges, except for actively pursuing them at appropriate levels for expeditious action," he said, while adding that he will work with twin priorities of "ramping up coal production and increasing coal supplies to consumers."
"One thing that needs to be understood is that targets are set in tandem with commensurate coal demand of the country. However, it is evident that coal demand in the country is far outstripping the indigenous production. "So the immediate need is to narrow the gap through increased indigenous production to the extent possible. We have set a target of 925 million tonne coal production by 2019-20, which is a huge challenge," Bhattacharya said.
Stating that the company has identified certain major issues to help enhance production, the CIL chairman said, "Seeing the timely completion of three major railway lines is our priority short term strategy leading to unlocking of large coal reserves in the states of Jharkhand, Chattisgarh and Odisha for extraction."
