Coal India
| Coal India Limited
|
|
|---|---|
 |
|
| legal form | Limited |
| ISIN | INE522F01014 |
| founding | November 1975 |
| Seat |
Calcutta , India
|
| management | Shri S. Narsing Rao ( Chairman of the Supervisory Board ) |
| Number of employees | 377,447 (2011) |
| sales | 1048 billion rupees (2012) |
| Branch | Mining |
| Website | www.coalindia.in |
Coal India Limited is an Indian mining company and the world's largest producer of coal . The headquarters of the state-controlled company, founded in 1975, is in Calcutta . In 2011, the company employed around 375,000 people and generated an after-tax profit of 147.88 billion rupees .
history
Beginnings
After India became independent, the first five-year plan at the beginning of the 1950s wanted to increase coal production and merge smaller production units. That was the beginning of a nationally controlled coal sector, the National Coal Development Corporation with initially eleven mines was founded to find and extract more coal deposits. At the beginning of the 1970s almost all coal mines in India were nationalized in two steps, only those of the IISCO , TISCO and DVC companies were excluded. In May 1972, all but a few of the 226 mines with coking plants were nationalized and Bharat Coking Coal Limited was founded as the owner, in May 1973 all 711 normal coal mines were nationalized and the Coal Mines Authority Limited was founded as the owner. Coal India Limited (CIL) was founded in November 1975 as the holding company for both companies, with the subsidiaries Bharat Coking Coal Limited (BCCL), Central Coalfields Limited (CCL), Eastern Coalfields Limited (ECL), Western Coalfields Limited (WCL) ) and Central Mine Planning and Design Institute Limited (CMPDIL).
20th century
At the end of the 1970s, the company changed its financial direction, before it had been careful not to generate a profit or a loss, from now on it started to work profitably. At the beginning of the 1980s, Coal India's coal production exceeded 100 million tons for the first time, at the same time it expanded and founded two further subsidiaries in 1985, Northern Coalfields Limited (NCL) and South Eastern Coalfields Limited (SECL) took over mines from the other subsidiaries CCL and WCL . From the 1990s, Coal India began to generate a larger profit, in the fiscal year 1992 they earned 1.67 billion rupees and produced 200 million tons of coal. In 1992 the last subsidiary to date, Mahanadi Coalfields Limited (MCL), was founded. In the late 1990s, the company continued to grow and multiply its profits, to 6.116 billion rupees in 1996.
After 2000
In 2003, the annual production of coal exceeded 300 million tons for the first time. The company used its profits to reduce its debt, which fell as a percentage of its assets from 66% in 2001 to 10% in 2006. 400 million tons of coal were produced in 2008 and the Indian government granted the company Navratna status that same year. With this status, the company can act more freely and make decisions. In 2009 Coal India Africana Limitada was founded, a subsidiary in Mozambique . In November 2010 the state of India sold 10% of the company, which was listed on the Bombay Stock Exchange . There they were included in the leading index BSE Sensex in August 2011 . In April 2011, the Indian government awarded Coal India Maharatna status, which was created in order to create international global players from large national corporations .
Amounts of coal
The quantities of coal extracted between 2007 and 2011 in tons.
| year | amount |
|---|---|
| 2011 | 433 million |
| 2010 | 423 million |
| 2009 | 415 million |
| 2008 | 400 million |
| 2007 | 372 million |
criticism
The Coalgate scandal became known in India in 2012, and between 2004 and 2009 the mining rights are said to have been awarded to 155 coal mines without a public tender. According to estimates by the Court of Auditors , the Indian state lost US $ 207 billion as a result . The then coal minister and current prime minister of India, Manmohan Singh , is said to have preferred large companies and contrary to the reason for the sales to increase the energy supply of the population, most mines have not yet been dismantled.
In 2013 Coal India was nominated for the Public Eye Award . The nomination denounced that the company is destroying areas where large mammals live and driving the indigenous tribal peoples from their ancestral areas, who then have to live in deep poverty. Another reason was the many accidents at work, in 2010 there were 205 deaths and 699 seriously injured workers in the mines of Coal India.
Web links
- Official Website of Coal India (English)
Individual evidence
- ↑ a b c d e f History. (No longer available online.) Coalindia.in, archived from the original on March 2, 2013 ; accessed on March 2, 2013 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Executive directors. (No longer available online.) Coalindia.in, archived from the original on March 2, 2013 ; accessed on March 2, 2013 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ a b c Annual Report & Accounts 2011-2012 of CIL. (PDF; 4.8 MB) (No longer available online.) Coalindia.in, archived from the original on January 16, 2013 ; accessed on March 2, 2013 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Coal India - Public Eye Award. (No longer available online.) Publiceye.ch, archived from the original on October 20, 2013 ; accessed on March 2, 2013 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ IPO: India wants to bring Coal India to the stock exchange for up to 2.5 billion euros. boersennews.de, accessed on March 2, 2013 (English).
- ↑ India wants to list Coal India on the stock exchange. nzz.ch, accessed on March 2, 2013 (English).
- ↑ a b Coal India Limited (CIL) and its subsidiaries. (No longer available online.) Coal.nic.in, archived from the original on October 17, 2013 ; accessed on March 2, 2013 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ With Coal India largest IPO in India. financial.de, accessed on March 2, 2013 (English).
- ↑ BSE to include Coal India, Sun Pharma in Sensex from Aug 8. thehindubusinessline.com, accessed on March 2, 2013 (English).
- ^ Q&A: Five things about India's coal scandal. bbc, accessed March 2, 2013 .
- ^ Coalgate: India experiences gigantic corruption scandal. zeit.de, accessed on March 2, 2013 .
- ^ Worst company of the year: Can Coal India win the 'honor'? daily.bhaskar.com, accessed March 2, 2013 .
