With an aim to achieve on one billion tonne (BT) coal production by 2023-24 and make the nation ‘Aatmanirbhar’ in coal, national miner CIL will invest over Rs 1.22 lakh crore on about 500 projects related to coal evacuation, infrastructure, project development, exploration and clean coal technologies.
Union Minister of Coal and Mines Pralhad Joshi, who addressed stakeholders’ meet through video conferencing on September 1, said: “Engagement and involvement of all concerned stakeholders in company’s affairs will reduce and uncover the project risks. Such two-way interactions help pave way for mutually beneficial newer ideas, improvement areas and project related expectations.”
CIL would be investing around Rs 14,200 crore by 2023-24, in two phases for its 49 first mile connectivity projects. First mile connectivity is the transportation of coal from pitheads to dispatch points. This is being 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 2023-24.
Coal India has also identified a total of 15 green field 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 will 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.
