Coal India to focus on CSR to meet growth targets

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India’s biggest coal producer Coal India (CIL) is unable to achieve the targeted growth and is unhappy about the same, reports Amrita Panja of CNBC-TV18.

According to NC Jha Chairman, Coal India, “Zero growth last year and the not so impressive growth this year points out to the fact that something more needs to be done in terms of environment, corporate social responsibility (CSR) and our initiatives of work.”Also Read: Coal India to spend Rs 30k cr on expansion during 12th PlanImpediments to growth

The company is facing problems regarding acquisition of land with areas marked as no go zones.

Delay in environmental clearances have cost the company 16 million tonne of coal in FY11. It will be tough for Coal India to meet its FY12 production target of 452 million tonne.Jha further added, “We need land on a continuous basis as a raw material. So, the basic thrust is to get land. How do we get land unless we win the confidence of people in the coal bearing area for that certain initiatives need to be taken such that people give us land, like CSR, environment responsibilities”

The company has set aside 5% of its retained profit for CSR activities. On the operational front, it also plans to use foreign technology for greater access to coal.TK Lahiri, chairman and managing director (CMD), Bharat Coking Coal, said, “BCCL and CIL board have been able to finalise two high capacity mines both of Chinese technology. One is of 2MT a year production for 10 years and another is a 4.5 MT  a year production for 10 years.”

Balancing environmental responsiblities and interest of stakeholders is a tightrope walk for Coal India, which constitutes 80% of the country’s coal supply. With a wide gap in demand and supply, initiatives on sustenance seems the only way out.Also watch the accompanying video.

(CNBC-TV18)

 

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