Bharat Coking Coal Limited (BCCL) will focus on producing 30 per cent more of a better grade of coking coal to bail out the company from the BIFR and meet the extra financial burden of the National Coal Wage agreement (NCW-8).
BCCL chairman/managing director T K Lahari said owing to the NCW-8 agreement, extra costs of around Rs 920 crores (Rs9.2 billion) has fallen on the company and this can only be made up by producing extra better grade of coking coal.
As a result the company has selected seven mining areas - four open cast projects and three under ground mines - for developing. These mines would yield around six to seven million tonnes of coal.
A global tender has been released in this regard.
Lahari, who assumed the helm of the company in November, said the BCCL had registered a positive growth 2.93 per cent in present financial year so far.
From April '08 to December '08 the company has achieved production of 17.962 mt as against 17.450 mt during the same period last year.
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