Bhubaneswar, Apr 2 (IANS): Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd (CIL), on Friday said it has produced 168 million tonnes (MT) of coal during the financial year 2021-22 registering a growth of about 14 per cent over the previous fiscal.

The company said it has set new milestones in all the performance parameters vis-a-vis coal production, despatch and overburden removal (OBR).

Addressing a press conference here, MCL Chairman-cum-Managing Director O.P. Singh said: "The last fiscal has been a great year, full of achievements for the company, and I am happy to inform that MCL's achievement in coal production had been 103 per cent of target at a record 168.17 million tonne for the financial year ended yesterday."

Besides, the company has dispatched 176.17 MT coal to the consumers, with a growth of 21 per cent over previous year, he said.

Similarly, the MCL has registered a growth of more than 18 per cent in overburden removal at 207 MCuM (million cubic meters), which will help us toAincrease the coal production during the current fiscal, Singh said.

He also said that MCL had been successful in meeting the rising demand of coal during the third quarter of last financial year 2021-22, despite challenges posed by Covid-19 pandemic.

About the future of coal demand, Singh said: "It is estimated that the coal demand will continue to remain high in the coming times." The company has set a target to produce 176 million tonne coal in the financial year 2022-23.

"We have also made advance preparations, keeping in view the erratic rainy season and other operational challenges, to meet the rising demand by producing more coal," he said.

He also said that the company has also done capital expenditure of Rs 3,805 crore during the last financial year, which would help MCL in meeting the future goals.

MCL is the largest coal producing company in the country, having its mining operations spread over Sundergarh, Jharsuguda and Angul districts of Odisha.