The Business Bytes
PRIYABRAT BISWAL
BHUBANESWAR, APRIL 2, 2021
Mini-Ratna Company Mahanadi Coalfields Limited (MCL) which broke all its previous records by achieving the highest ever production and coal dispatch in the financial year 2020-21, has set a production target of 168 MT for FY 2021-22.
The Coal India Limited (CIL) subsidiary achieved highest ever production of 148.01 million tonnes (MT) registering a growth of 5.5 percent over the previous fiscal; and coal dispatch of 146 MT achieving 8.9 per cent growth besides a record over-burden removal (OBR) of 174.5 million cubic meters (MCuM) setting a strong foundation for making CIL achieve the target of one billion tonnes production by 2024, informed MCL Chairman-cum-Managing Director P K Sinha, while addressing media persons here on Friday.
“The coal production, dispatch and OB removal of MCL during the financial year 2020-21 was the highest ever at 148.01 MT, 146 MT and 174.5 MCuM respectively,” Sinha said, expressing his gratitude to all the stakeholders, including the Centre and the Odisha government and employees of the company.
MCL produced about 139 MT through Surface Miners in an eco-friendly manner which is the highest among all subsidiaries of CIL.
MCL also achieved the highest rake supply in a single day with a staggering 101 rakes, dispatched on December 9, 2020.
With the economy gradually coming back on track after a lull due to the Covid-19 pandemic, and growing demand for coal by power plants, MCL eyes 168 MT coal production in the current fiscal, Sinha said.
The Capital Expenditure (CAPEX) of Rs 2300 crore by MCL was also the highest among all the Coal India subsidiaries, he said, informing that the Company has set a provisional CAPEX of Rs 4600 crore for FY2021-22.
The MCL CMD expressed gratitude to the Odisha government and the Central government for extending all necessary support to the company which ensured the company achieve new milestones despite the COVID-19 pandemic.
MCL is committed to provide clean coal with minimum impact on the environment. In this regard, the company is implementing nine First Mile Connectivity projects to provide a pollution-free state-of-the-art rake loading system at a total expenditure of Rs 3,600 crore which will generate a capacity of 126 MT per year, said Sinha. Out of this, Lingaraj SILO has been commissioned, 2 in construction phase and tenders have already been awarded in 6 other projects, he added.
In 2020, MCL not only worked for providing energy security to the nation, but also actively supported the Odisha government in its fight against COVID-19 pandemic.
MCL had signed a Tripartite Agreement with the Odisha government and SUM Hospital for setting-up of a 525-bed COVID Hospital at Bhubaneswar and a 150-bed COVID-19 hospital at Talcher. Besides, the company also established a dedicated 50-bed COVID Health Centre in Jharsuguda and other Covid Care Centres having a capacity to accommodate 85 patients.
Terming the R&R (Rehabilitation and Resettlement) Policy of the Odisha Government as the best in the country, the MCL CMD said that land losers have been suitably compensated as per the policy, and as many as 700 persons belonging to this category have been given employment in the last year alone.
In terms of CSR spending, MCL spent Rs 193 crore in the financial year 2020-21, against its target of Rs 168.44 crore, thus becoming the number one Company in Odisha contributing under CSR.
