State-run Coal India Ltd recently reported a four-fold jump in profits for 2009-10 compared with the previous fiscal year, thanks to increased output, better coal prices and reduced production costs.The earnings will boost India’s largest coal miner’s efforts to attract international buyers when the Union government sells a 10 per cent stake in the firm in an initial public offering (IPO) later this year. Here is a detailed summary of its annual performance:
PRODUCTION
Coal India closed the fiscal 2009-10 with an impressive coal production of 431.27 million tonnes (MTs) registering a growth of 6.8% — the highest achieved in any year so far. In absolute terms the increase is 27.54 MTs compared to the coal production of 403.73 MTs achieved in 2008-09.
CIL’s performance was commendable considering the fact that it had to overcome severe coal evacuation bottlenecks as a result of unavailability of rakes to the desired extent particularly in MCL; CCL and BCCL and yet managed to achieve 99.1% of the targeted production of 435 MTs. The growth in coal production in absolute and percentage terms was highest.
CIL has set an ambitious target of 435 MTs involving a target growth rate of 7.6% being in 2009-10 as against a growth of 6.4% achieved in 2008-09 and 5.3% per annum achieved during the period 2002-03 to 2007-08. Clearly, CIL had stepped into a higher growth orbit in 2008-09, which has been further reinforced in 2009-10.
Meanwhile, Mahanadi Coalfields Limited (MCL) the Sambalpur based Mini Ratna company became the second CIL subsidiary to cross the three figure mark in coal production as it recorded a production of 104.08 MTs during 2009-10.
South Eastern Coalfields Limited (SECL) was the first CIL subsidiary to have joined the select band of 100 MTs coal production club in 2008-09, which has few members globally. During the fiscal these two subsidiaries have contributed to 49.2% of the overall production.
While the production through Opencast mines was 388.01 MTs during the fiscal the same in case of Underground mines was 43.26 MTs.
South Eastern Coalfields Limited (SECL), Northern Coalfields Limited (NCL) and Western Coalfields Limited (WCL) have surpassed their targets by 2.01 MTs, 1.17 MTs and 0.74 MTs respectively. This surplus had made up the shortfall to some extent mainly of Mahanadi Coalfields Limited (MCL) 5.22 MTs; Eastern Coalfields Limited (ECL) 0.93 MTs; Central Coalfields Limited (CCL) 0.92 MTs; Bharat Coking Coal Limited (BCCL) 0.49 MTs; and North Eastern Coalfields (NEC) 0.09 MTs. The shortfall in MCL, BCCL and CCL was primarily due to unavailability of rakes leading to build up of coal stocks beyond acceptable levels and persistent law and order problems in some of its projects. The shortfall in ECL was mainly a result of number of projects getting delayed on account of forestry clearance.
OFF-TAKE
Raw Coal off-take during the fiscal was 415.96 MTs, an increase of 14.50 MTs compared to 401.46 MTs achieved in the previous fiscal, registering a growth of only 3.6%. The primary reason for meagre growth in off-take is poor availability of rakes. On an average, 156.6 rakes per day were available for movement of raw coal to consumers as against 155 rakes per day made available in the previous year. Incrementally, only about 2.2 MTs of coal could be moved through railways out of the incremental off-take of 14.50 MTs.
OVER BURDEN REMOVAL
As regards OBR, the aggregate quantity for CIL as a whole is 695.29 million Cub.M which is 50.16 Million Cub M (7.8%) higher than the previous year. The maximum growth in OBR has been in MCL (27.2%) followed by SECL (21.5%), ECL (16%), BCCL (15.6%) and WCL (5.8%). Growth in OB in CCL was only 0.7%. In NCL, OBR has suffered a decline of 6.2%. As compared to AAP target, BCCL and WCL have actually exceeded the target, while other companies have done less than the target.
SALES
Gross Sales of CIL during 2009-10 was Rs 52,088 crores (provisional) against Rs 45,797 crores of 2008-09, registering a growth of 13.74%.
E-MARKETING OF COAL
43.08 MTs of coal was sold under e-marketing during 2009-10 with MCL topping at 18.54 MTs followed by SECL 8.98 MTs; CCL 5.48 MTs; WCL 4.76 MTs; BCCL 2.63 MTs ECL 1.51 MTs and NCL 1.18 MTs.
The e-marketing yielded an additional revenue of Rs 2,311.88 crores over the notified price. The average additional revenue per tonne works out to Rs 536.47, which is 57.25% higher than the average notified price of Rs 937.09 per tonne for the coal sold under e-marketing. Additional revenue earnings have been highest in SECL — Rs 780.45 crores followed by Rs 612.72 crores in MCL, Rs 276.44 crores in CCL, Rs 222.53 crores in WCL, Rs152.51 crores in BCCL and Rs 118.27 crores in ECL.
In percentage terms, the highest gain has been 132.91% in NCL, followed by 96.32% in SECL, 50.71% in CCL, 46.28% in MCL, 45.64% in BCCL and 40.58% in ECL.
PROFIT
For the second time since formation of CIL, all coal companies including ECL and BCCL have reported profit.
Coal India as a whole made a profit (before tax and dividend) of Rs 12,396.47 crores (provisional) during 2009-10. The corresponding figure in the previous year was Rs 5,744.10 crores which, however, was after accounting for the arrears on account of pay revision from 1-07-06 for workers and 01-01-07 for officers.
The impact of arrears of pay revision built into the accounts for the year 2008-09 is Rs 3216.50 crores. Therefore on a like to like basis, the profit for 2008-09 without taking into account the impact of arrears due to pay revision, but after considering the impact of pay revision for the year itself works out to Rs 8960.60 (5744.10 + 3216.50) crores. Thus, on a like to like basis, the improvement of profit before tax in the current year has been of the order of Rs 3,435.87 crores i.e. 38.3%. The profit after tax is estimated at Rs 8,312.40 crores as against 2,078.70 crores in the previous year.
NET WORTH
The Net Worth of the company has risen to Rs 24,541.01 crores (provisional) estimated on 31 March 2010 from a level of Rs 19,165.04 crores of 2008-09.
DIVIDEND PAID
Coal India paid a dividend of Rs 2,210 crores to Government of India during the fiscal 2009-10, which constitutes to 35% of the paid up equity of CIL of Rs 6316.36 Crores. During previous financial year CIL paid dividend of Rs 1,705.42 crores which was 27% of the equity.
PAYMENTS TO GOVERNMENT OF INDIA
The aggregate payment made out from the profits to the Government comprises of Corporate tax of Rs 4,084.08 crores, dividend tax of Rs 726.43 crores and dividend of Rs 2,210 Crores aggregating to Rs 7,020.51 crores. Corresponding figure for the previous year was Rs 5,920.15 crores.
In respect of contribution of subsidiary companies in the profit before tax, the highest contributor is NCL (Rs 3,775.45 Cr) followed by MCL (Rs.3010 Cr), SECL (Rs 2743.32 Cr), CCL (Rs 1,500.26 Cr), WCL (Rs 601.04 Cr), BCCL (Rs 402.29 Cr) and ECL (Rs 152.36 Cr).
TARGET FOR 2010-11
As per the Memorandum of Understanding signed recently with Government the targets for 2010-11 for Coal Production and Coal Off-take have been pegged at 461.5 MTs and 462.5 MTs respectively.
OTHER HIGHLIGHTS
Impetus of CSR activities
* In a proactive measure even before the formal announcement of Government that a separate fund for CSR activities is mandatory for PSUs CIL has stepped up its budget on CSR activities. CIL has earmarked 5% of the retained earnings of previous year, subject to minimum of Rs 5 per tonne of coal production of pervious year whichever is higher for its CSR activities. Earlier, Rs 1 per tonne of coal produced was earmarked for the same purpose. Memorandum of Understanding (MoU) recently signed with Government for 2010-11 saw special emphasis on Corporate Social Responsibility which has been identified as one of the major thrust areas.
Reduction in Manpower
COAL VISION
* Coal India on 9 February 2010 formally launched its corporate planning document “Coal Vision 2020” to consolidate its role as prime energy provider of the country and sustain it in the longer run.
For the purpose, CIL has engaged KPMG Advisory Services Private Limited to undertake the assignment. KPMG has identified six key areas that will support CIL to realize its vision, namely, managing scale of growth; improving operational efficiency; improving customer orientation; expanding presence across coal value chain; becoming employer of choice and focussing on environment & community through sustainable initiatives. A time frame of 18 months has been fixed for this initiative including one year of implementation during which roadmap for improvement will be laid out.
STRATEGIC ALLIANCES
Coal India has floated a Global Expression of Interest in July 2009 for selection of strategic partners for acquisition of coal assets abroad, development and operating coal mines/resources abroad in select countries like Australia, USA, South Africa and Indonesia. The responses against EoI are being pursued to its logical conclusion. Due diligence with association of Merchant/Investment Bankers as well as Technical consultants is in pipeline only for listed companies.
MEMORANDUM OF UNDERSTANDING WITH GOVERNMENT
CIL signed a Memorandum of Understanding (MoU) on 30 March 2010 with its administrative ministry - Ministry of Coal - for its key performance areas for the fiscal 2010-11.
C Balakrishnan, Secretary, Ministry of Coal and Partha Bhattacharyya, Chairman CIL signed the document in Delhi. As per the MoU, CIL’s targeted production and coal off-take have been pegged at 461.5 Million Tonnes (MTs) and 462.5 MTs respectively for attaining an ‘Excellent’ rating. MoU for 2010-11 saw special emphasis on Research & Development and Corporate Social Responsibility which have been identified as major thrust areas. The R&D activities will see a quantum jump from the present Rs 15 crores earmarked annually for the purpose to twice that amount, Rs 30 crores.
FUEL SUPPLY AGREEMENT WITH NTPC
CIL and NTPC signed a Fuel Supply Agreement (FSA) in Kolkata on 29 May 2009. This was as per by the New Coal Distribution Policy (NCDP) of Government, which stipulates coal supplies to consumers through legally enforceable bi-lateral FSAs with performance based ‘take or pay’ provision. The trigger level, which is the minimum assured quantity of coal supply, has been fixed at 90% of Annual Contracted Quantity (ACQ) for power utilities. Provision for compensation for short delivery / short lifting against the trigger level of 90% of ACQ has been kept to be applicable for Coal Company or Power Station whichever is in default. The tenure of the FSA with power utilities will be for 20 years or till the end of the life of the power station, whichever is earlier, with provisions for joint review of ACQ after every 5 years.
INDIAN DELEGATION TO AUSTRALIA
Coal Minister Sriprakash Jaiswal led an Indian delegation to Australia in August 2009. During the visit the delegation visited prominent mines and works, interacted with Australian dignitaries and experts for mutual co-operation in the field of coal mining operations.
CMPDIL'S ACHIEVEMENTS
Central Mine Planning and Design Institute (CMPDI) — mine planning and consultancy arm of Coal India Limited successfully executed a critical assignment of setting up the central line alignment in the naval ships with Gyromat 3000 in the Mazgaon Dock of Indian Navy on no profit no loss basis. CMPDI holds the distinction of being the first PSU to successfully execute Indian Navy’s assignment on ‘no loss no profit’ basis.
CMPDI was conferred with ‘Mini Ratna’ (Category II) status. With this CMPDI has become the 6th subsidiary company of CIL to have achieved Mini Ratna Status and 2nd coal company from the state of Jharkhand in May 2009.
CMPDI has signed an MoU with Survey of India on 14 July 2009 for preparation of updated topographical maps of 28 major Indian coalfields of India based on Remote Sensing technique. The Project will be jointly implemented by CMPDI & Survey of India with a completion schedule of 5 years.
PROCUREMENT OF HIGH CAPACITY EQUIPMENT
South Eastern Coalfields Limited (SECL) in a bid to enhance its production and productivity has introduced Four- 240 Te Dumpers; One 42 Cubic Meter Shovel and One 381 MM Drill Machine at Gevra Open Cast Mine in January 2010. It was for the first time in the country that such high capacity equipment were procured.
AWARDS & ACCOLADES
CIL was conferred with the coveted “SCOPE Gold Trophy 2007-08 (Institutional category)” for Excellence and Outstanding Contribution to Public Sector Management on 15 October 2009. Prime Minister Dr Manmohan Singh presented the award to Chairman Partha Bhattacharyya in New Delhi.
CIL was ranked among the top Five finalists in the 11th Anniversary of Platts Global Energy Awards 2009, in the “Energy Producer of the Year” category. Platts Global Energy Awards conferred by a Division of Mc Graw Hill Companies USA, have come to be recognized by the energy industry at large as hallmarks of excellence and convey a high degree of prestige and peer recognition to institutions. Coal India made it to the finals based on its corporate profile and financial performance.
HR AWARD TO CHAIRMAN
Chairman Partha Bhattacharyya was conferred with ‘CEO with HR Orientation’ award by Council of World HRD Congress during the Global HR Excellence Awards Ceremony 2010 held in Mumbai on 12th February, 2010. The award was presented by Jigmy Y Thinley, Prime Minister of Bhutan and Bhaskar Chatterjee, Secretary, Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises.
COAL INDIA’S PROPOSED OFFICE COMPLEX
Coal Minister Jaiswal laid the foundation stone for the proposed office complex of CIL,at Rajarhat, Kolkata. CIL has already entered into an MoU with National Building and Construction Company (NBCC) Limited, a public sector unit, for construction of its state-of -art office complex of CIL, at an estimated cost of Rs 126 crores, on a 15 acre plot at New Town, the fast expanding city periphery. The official complex will however come up in 5 acre area. The building designed to accommodate about 900 employees measures approximately 269,000 Square Feet in Ground plus eight storied configuration.
PRODUCTION
Coal India closed the fiscal 2009-10 with an impressive coal production of 431.27 million tonnes (MTs) registering a growth of 6.8% — the highest achieved in any year so far. In absolute terms the increase is 27.54 MTs compared to the coal production of 403.73 MTs achieved in 2008-09.
CIL’s performance was commendable considering the fact that it had to overcome severe coal evacuation bottlenecks as a result of unavailability of rakes to the desired extent particularly in MCL; CCL and BCCL and yet managed to achieve 99.1% of the targeted production of 435 MTs. The growth in coal production in absolute and percentage terms was highest.
CIL has set an ambitious target of 435 MTs involving a target growth rate of 7.6% being in 2009-10 as against a growth of 6.4% achieved in 2008-09 and 5.3% per annum achieved during the period 2002-03 to 2007-08. Clearly, CIL had stepped into a higher growth orbit in 2008-09, which has been further reinforced in 2009-10.
Meanwhile, Mahanadi Coalfields Limited (MCL) the Sambalpur based Mini Ratna company became the second CIL subsidiary to cross the three figure mark in coal production as it recorded a production of 104.08 MTs during 2009-10.
South Eastern Coalfields Limited (SECL) was the first CIL subsidiary to have joined the select band of 100 MTs coal production club in 2008-09, which has few members globally. During the fiscal these two subsidiaries have contributed to 49.2% of the overall production.
While the production through Opencast mines was 388.01 MTs during the fiscal the same in case of Underground mines was 43.26 MTs.
South Eastern Coalfields Limited (SECL), Northern Coalfields Limited (NCL) and Western Coalfields Limited (WCL) have surpassed their targets by 2.01 MTs, 1.17 MTs and 0.74 MTs respectively. This surplus had made up the shortfall to some extent mainly of Mahanadi Coalfields Limited (MCL) 5.22 MTs; Eastern Coalfields Limited (ECL) 0.93 MTs; Central Coalfields Limited (CCL) 0.92 MTs; Bharat Coking Coal Limited (BCCL) 0.49 MTs; and North Eastern Coalfields (NEC) 0.09 MTs. The shortfall in MCL, BCCL and CCL was primarily due to unavailability of rakes leading to build up of coal stocks beyond acceptable levels and persistent law and order problems in some of its projects. The shortfall in ECL was mainly a result of number of projects getting delayed on account of forestry clearance.
OFF-TAKE
Raw Coal off-take during the fiscal was 415.96 MTs, an increase of 14.50 MTs compared to 401.46 MTs achieved in the previous fiscal, registering a growth of only 3.6%. The primary reason for meagre growth in off-take is poor availability of rakes. On an average, 156.6 rakes per day were available for movement of raw coal to consumers as against 155 rakes per day made available in the previous year. Incrementally, only about 2.2 MTs of coal could be moved through railways out of the incremental off-take of 14.50 MTs.
OVER BURDEN REMOVAL
As regards OBR, the aggregate quantity for CIL as a whole is 695.29 million Cub.M which is 50.16 Million Cub M (7.8%) higher than the previous year. The maximum growth in OBR has been in MCL (27.2%) followed by SECL (21.5%), ECL (16%), BCCL (15.6%) and WCL (5.8%). Growth in OB in CCL was only 0.7%. In NCL, OBR has suffered a decline of 6.2%. As compared to AAP target, BCCL and WCL have actually exceeded the target, while other companies have done less than the target.
SALES
Gross Sales of CIL during 2009-10 was Rs 52,088 crores (provisional) against Rs 45,797 crores of 2008-09, registering a growth of 13.74%.
E-MARKETING OF COAL
43.08 MTs of coal was sold under e-marketing during 2009-10 with MCL topping at 18.54 MTs followed by SECL 8.98 MTs; CCL 5.48 MTs; WCL 4.76 MTs; BCCL 2.63 MTs ECL 1.51 MTs and NCL 1.18 MTs.
The e-marketing yielded an additional revenue of Rs 2,311.88 crores over the notified price. The average additional revenue per tonne works out to Rs 536.47, which is 57.25% higher than the average notified price of Rs 937.09 per tonne for the coal sold under e-marketing. Additional revenue earnings have been highest in SECL — Rs 780.45 crores followed by Rs 612.72 crores in MCL, Rs 276.44 crores in CCL, Rs 222.53 crores in WCL, Rs152.51 crores in BCCL and Rs 118.27 crores in ECL.
In percentage terms, the highest gain has been 132.91% in NCL, followed by 96.32% in SECL, 50.71% in CCL, 46.28% in MCL, 45.64% in BCCL and 40.58% in ECL.
PROFIT
For the second time since formation of CIL, all coal companies including ECL and BCCL have reported profit.
Coal India as a whole made a profit (before tax and dividend) of Rs 12,396.47 crores (provisional) during 2009-10. The corresponding figure in the previous year was Rs 5,744.10 crores which, however, was after accounting for the arrears on account of pay revision from 1-07-06 for workers and 01-01-07 for officers.
The impact of arrears of pay revision built into the accounts for the year 2008-09 is Rs 3216.50 crores. Therefore on a like to like basis, the profit for 2008-09 without taking into account the impact of arrears due to pay revision, but after considering the impact of pay revision for the year itself works out to Rs 8960.60 (5744.10 + 3216.50) crores. Thus, on a like to like basis, the improvement of profit before tax in the current year has been of the order of Rs 3,435.87 crores i.e. 38.3%. The profit after tax is estimated at Rs 8,312.40 crores as against 2,078.70 crores in the previous year.
NET WORTH
The Net Worth of the company has risen to Rs 24,541.01 crores (provisional) estimated on 31 March 2010 from a level of Rs 19,165.04 crores of 2008-09.
DIVIDEND PAID
Coal India paid a dividend of Rs 2,210 crores to Government of India during the fiscal 2009-10, which constitutes to 35% of the paid up equity of CIL of Rs 6316.36 Crores. During previous financial year CIL paid dividend of Rs 1,705.42 crores which was 27% of the equity.
PAYMENTS TO GOVERNMENT OF INDIA
The aggregate payment made out from the profits to the Government comprises of Corporate tax of Rs 4,084.08 crores, dividend tax of Rs 726.43 crores and dividend of Rs 2,210 Crores aggregating to Rs 7,020.51 crores. Corresponding figure for the previous year was Rs 5,920.15 crores.
In respect of contribution of subsidiary companies in the profit before tax, the highest contributor is NCL (Rs 3,775.45 Cr) followed by MCL (Rs.3010 Cr), SECL (Rs 2743.32 Cr), CCL (Rs 1,500.26 Cr), WCL (Rs 601.04 Cr), BCCL (Rs 402.29 Cr) and ECL (Rs 152.36 Cr).
TARGET FOR 2010-11
As per the Memorandum of Understanding signed recently with Government the targets for 2010-11 for Coal Production and Coal Off-take have been pegged at 461.5 MTs and 462.5 MTs respectively.
OTHER HIGHLIGHTS
Impetus of CSR activities
* In a proactive measure even before the formal announcement of Government that a separate fund for CSR activities is mandatory for PSUs CIL has stepped up its budget on CSR activities. CIL has earmarked 5% of the retained earnings of previous year, subject to minimum of Rs 5 per tonne of coal production of pervious year whichever is higher for its CSR activities. Earlier, Rs 1 per tonne of coal produced was earmarked for the same purpose. Memorandum of Understanding (MoU) recently signed with Government for 2010-11 saw special emphasis on Corporate Social Responsibility which has been identified as one of the major thrust areas.
Reduction in Manpower
- The Manpower of CIL as of 1 March 2010 stands at 3,98,368. The reduction in manpower during first 11 (eleven) months of the fiscal was 13,982. Coal Projects during 2009-10
- A total of 295 Projects - 77 ongoing and 218 completed - have contributed to the tune of 389 MTs during the fiscal 2009-10.
COAL VISION
* Coal India on 9 February 2010 formally launched its corporate planning document “Coal Vision 2020” to consolidate its role as prime energy provider of the country and sustain it in the longer run.
For the purpose, CIL has engaged KPMG Advisory Services Private Limited to undertake the assignment. KPMG has identified six key areas that will support CIL to realize its vision, namely, managing scale of growth; improving operational efficiency; improving customer orientation; expanding presence across coal value chain; becoming employer of choice and focussing on environment & community through sustainable initiatives. A time frame of 18 months has been fixed for this initiative including one year of implementation during which roadmap for improvement will be laid out.
STRATEGIC ALLIANCES
Coal India has floated a Global Expression of Interest in July 2009 for selection of strategic partners for acquisition of coal assets abroad, development and operating coal mines/resources abroad in select countries like Australia, USA, South Africa and Indonesia. The responses against EoI are being pursued to its logical conclusion. Due diligence with association of Merchant/Investment Bankers as well as Technical consultants is in pipeline only for listed companies.
MEMORANDUM OF UNDERSTANDING WITH GOVERNMENT
CIL signed a Memorandum of Understanding (MoU) on 30 March 2010 with its administrative ministry - Ministry of Coal - for its key performance areas for the fiscal 2010-11.
C Balakrishnan, Secretary, Ministry of Coal and Partha Bhattacharyya, Chairman CIL signed the document in Delhi. As per the MoU, CIL’s targeted production and coal off-take have been pegged at 461.5 Million Tonnes (MTs) and 462.5 MTs respectively for attaining an ‘Excellent’ rating. MoU for 2010-11 saw special emphasis on Research & Development and Corporate Social Responsibility which have been identified as major thrust areas. The R&D activities will see a quantum jump from the present Rs 15 crores earmarked annually for the purpose to twice that amount, Rs 30 crores.
FUEL SUPPLY AGREEMENT WITH NTPC
CIL and NTPC signed a Fuel Supply Agreement (FSA) in Kolkata on 29 May 2009. This was as per by the New Coal Distribution Policy (NCDP) of Government, which stipulates coal supplies to consumers through legally enforceable bi-lateral FSAs with performance based ‘take or pay’ provision. The trigger level, which is the minimum assured quantity of coal supply, has been fixed at 90% of Annual Contracted Quantity (ACQ) for power utilities. Provision for compensation for short delivery / short lifting against the trigger level of 90% of ACQ has been kept to be applicable for Coal Company or Power Station whichever is in default. The tenure of the FSA with power utilities will be for 20 years or till the end of the life of the power station, whichever is earlier, with provisions for joint review of ACQ after every 5 years.
INDIAN DELEGATION TO AUSTRALIA
Coal Minister Sriprakash Jaiswal led an Indian delegation to Australia in August 2009. During the visit the delegation visited prominent mines and works, interacted with Australian dignitaries and experts for mutual co-operation in the field of coal mining operations.
CMPDIL'S ACHIEVEMENTS
Central Mine Planning and Design Institute (CMPDI) — mine planning and consultancy arm of Coal India Limited successfully executed a critical assignment of setting up the central line alignment in the naval ships with Gyromat 3000 in the Mazgaon Dock of Indian Navy on no profit no loss basis. CMPDI holds the distinction of being the first PSU to successfully execute Indian Navy’s assignment on ‘no loss no profit’ basis.
CMPDI was conferred with ‘Mini Ratna’ (Category II) status. With this CMPDI has become the 6th subsidiary company of CIL to have achieved Mini Ratna Status and 2nd coal company from the state of Jharkhand in May 2009.
CMPDI has signed an MoU with Survey of India on 14 July 2009 for preparation of updated topographical maps of 28 major Indian coalfields of India based on Remote Sensing technique. The Project will be jointly implemented by CMPDI & Survey of India with a completion schedule of 5 years.
PROCUREMENT OF HIGH CAPACITY EQUIPMENT
South Eastern Coalfields Limited (SECL) in a bid to enhance its production and productivity has introduced Four- 240 Te Dumpers; One 42 Cubic Meter Shovel and One 381 MM Drill Machine at Gevra Open Cast Mine in January 2010. It was for the first time in the country that such high capacity equipment were procured.
AWARDS & ACCOLADES
CIL was conferred with the coveted “SCOPE Gold Trophy 2007-08 (Institutional category)” for Excellence and Outstanding Contribution to Public Sector Management on 15 October 2009. Prime Minister Dr Manmohan Singh presented the award to Chairman Partha Bhattacharyya in New Delhi.
CIL was ranked among the top Five finalists in the 11th Anniversary of Platts Global Energy Awards 2009, in the “Energy Producer of the Year” category. Platts Global Energy Awards conferred by a Division of Mc Graw Hill Companies USA, have come to be recognized by the energy industry at large as hallmarks of excellence and convey a high degree of prestige and peer recognition to institutions. Coal India made it to the finals based on its corporate profile and financial performance.
HR AWARD TO CHAIRMAN
Chairman Partha Bhattacharyya was conferred with ‘CEO with HR Orientation’ award by Council of World HRD Congress during the Global HR Excellence Awards Ceremony 2010 held in Mumbai on 12th February, 2010. The award was presented by Jigmy Y Thinley, Prime Minister of Bhutan and Bhaskar Chatterjee, Secretary, Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises.
COAL INDIA’S PROPOSED OFFICE COMPLEX
Coal Minister Jaiswal laid the foundation stone for the proposed office complex of CIL,at Rajarhat, Kolkata. CIL has already entered into an MoU with National Building and Construction Company (NBCC) Limited, a public sector unit, for construction of its state-of -art office complex of CIL, at an estimated cost of Rs 126 crores, on a 15 acre plot at New Town, the fast expanding city periphery. The official complex will however come up in 5 acre area. The building designed to accommodate about 900 employees measures approximately 269,000 Square Feet in Ground plus eight storied configuration.
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