Coal India’s newly-appointed Chairman and Managing Director (CMD), PM Prasad, has expressed his commitment to ensuring uninterrupted coal supply to the power sector. In a statement released by the company, Prasad emphasized that achieving the target of 780 million tonnes (MT) of coal output by FY 2024 is a top priority for Coal India.
Prasad, who previously led the Jharkhand based Central Coalfields Ltd, a subsidiary of Coal India, successfully achieved the production target for FY23. With over 30 years of experience in the coal mining sector and a post-graduate degree in mining engineering from the Indian School of Mines IIT Dhanbad, Prasad is well-equipped to lead the company.
Prasad replaces Pramod Agrawal, who stepped down upon reaching the age of superannuation on June 30. Agrawal’s departure comes at a time when Coal India is witnessing significant growth in its production. In the first quarter of FY 2024, Coal India recorded its highest ever production during the first quarter of any year, reaching 175.5 million tonnes, a near 10% growth. Despite heavy rainfall in June impacting production levels, the company managed a double-digit growth of 12.4% compared to the same month last year, producing 58 million tonnes.
Coal India’s overburden removal (OBR) also experienced remarkable growth, with 497.5 million cubic meters excavated between April and June 2023, representing a 30% increase compared to the same period last year. This substantial increase in overburden removal is seen as a positive sign for future production.
Furthermore, Coal India’s total coal supplies in the first quarter of FY 2023 reached 187 million tonnes, reflecting a 5.3% growth compared to the same period in the previous fiscal year. Notably, the non-power sector received a significant increase in coal supplies, recording a robust growth of 34% to reach 33.4 million tonnes.
As Prasad assumes his new role as CMD, he aims to build upon the strong foundation laid by his predecessor. Ensuring uninterrupted coal flow to the power sector and achieving the ambitious coal output target for FY 2024 remain key priorities for Coal India.
The appointment of Prasad and the consecutive growth in production and supplies demonstrate Coal India’s resilience and stability in the coal mining industry. With an experienced leader at the helm, the company is well-positioned to overcome challenges and contribute to the power sector’s energy requirements while meeting national energy goals.
Overall, Prasad’s appointment brings optimism and a renewed sense of purpose to Coal India, as the company continues to play a pivotal role in India’s energy landscape.
