Team News Riveting
With an aim to achieve 1 billion tonnes (BT) coal production by the year 2023-24 and make the nation Aatmanirbhar in Coal, National Miner Coal India Ltd (CIL) would invest over Rs 1.22 lakh crore on about 500 projects by 203-24.
The projects where the investment would come were related to coal evacuation, infrastructure, project development, exploration and clean coal technologies, said Minister of Coal and Mines Pralhad Joshi today while
Addressing the stakeholders, the Minister said that avenues for business opportunities with Coal India were huge. The company would be investing around Rs. 14,200 crore by the year 2023-24, in two phases for its 49 First Mile Connectivity projects. He added that first Mile Connectivity is the transportation of coal from pitheads to dispatch points. He further said that this was done to bring in improved efficiency in coal transport and to undertake computer-aided loading replacing the existing road transport between the two points.
Out of the proposed spend of over 1.22 lakh crore; CIL has planned to invest Rs 32,696 crore on coal evacuation, Rs 25117 crore on mine infrastructure, Rs 29461 crore on project development, Rs 32,199 on diversification and clean coal technologies, Rs 1,495 crore on social infrastructure and Rs 1,893 crore on exploration works by the year 2023-24.
Further, in a transformative plan to increase coal output and reduce import dependency of coal in the ensuing years, Coal India has identified a total of 15 Greenfield projects to operate through Mine Developer and Operator (MDO) model that would entail a total investment plan of about Rs 34,600 crore of which likely investment ending financial year 2024 is about Rs 17000 crore.
Evacuation infrastructure is another major area where Coal India would be infusing large sums of money into the economy. Investments in rail logistics like developing major railways (about Rs 13000 crore), railway sidings (about Rs 3100 crore) and procurement of own wagons (Rs 675 crore) would total up to likely investment of over Rs 16500 crore by FY 23-24.
The Minister said that Coal India and its subsidiaries are engaged in procurement of various types of goods, works and services amounting to approximately Rs 30,000 crore per year.
