Coal India to pour Rs 56,000 cr on coal projects
These projects are at various stages of implementation
Coal India has firmed up plans to make an investment of Rs 56,000 crore on 66 coal projects with an annual peak production capacity of 500 million tonne.
These projects are at various stages of implementation and as per the memorandum of understanding entered between Coal India and the Ministry of Coal over the state-run company’s fiscal 2020 targets, almost 55 percent of the total capital outlay will be carried out by the South Eastern Coalfields (SECL). The SECL is working on 23 projects with a total peak production capacity of 192 million tonne.
SECL is the largest coal-producing subsidiary of the company, contributing almost a fourth of the total production at 157 million tonne in 2018-19. The sanctioned capital for projects undertaken by SECL is about Rs 30,783 crore.
Apart from this, Mahanadi Coalfields is working on 11 projects with a peak production capacity of about 156 million tonnes at an investment of Rs 8,519 crore. Western Coalfields has undertaken works on 15 projects and will be investing Rs 5,949 crore and have a total peak rated capacity of around 35 million tonne.
Eastern Coalfields is also implementing four projects with a peak rated capacity of 17 million tonne and a outlay of Rs 2,570 crore. Bharat Coking Coal has undertaken four projects with a peak rated capacity of 18.5 million tonne involving a capital outlay of Rs 2,345 crore.
Central Coalfields is developing seven projects with a peak capacity of 42 million tonne. The total outlay for the projects is Rs 2,846 crore. Northern Coalfields is involved in two projects with a capacity of 40 million tonne with an investment of Rs 3,038 crore.
Coal India has pushed ahead its targeted one billion tonne production capacity achievement by two years to 2024. The company intends to produce 750 million tonne during FY21, while for FY19 the target is 660 million tonne.