State-run Coal India Ltd (CIL) has approved 32 mining projects in the current financial year till January, which may see investment to the tune of around Rs 47,300 crore as the company seeks to replace imports and move towards its 1 billion tonne coal production target by 2023-34.
While 24 of the 32 are an expansion of the existing projects, the rest eight are new greenfield projects. “Scripting a record high…CIL approved 32 coal mining projects in the current fiscal till January 2021,” the PSU said. CIL board and boards of the respective subsidiary companies have given their nod for the move
The combined incremental peak capacity of these projects is projected at 193 million tonnes per annum (mtpa).
CIL’s three subsidiaries South Eastern Coalfields, Central Coalfields and Mahanadi Coalfields with 167 mtpa form the bulk at 86.5 per cent. This will be in addition to the already sanctioned capacity of 303.5 mtpa. India’s coal users imported a record 248.5 million tons of the fuel in FY20. The miner has lined up a total investment of about Rs 92,000 crore for its coal projects with an aim to achieve one billion production target which include likely investment in coal evacuation infrastructure, mining infrastructure, project development and social infrastructure. However, CIL is also coming up with an estimated likely investment of about Rs 1.26 lakh crore involving 506 projects which include likely investment in clean coal and diversification initiatives.
Source: Indian Express
