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Coal India Limited (CIL) plans to invest over ₹1.22 lakh crore on projects related to coal evacuation, infrastructure, project development, exploration and clean coal technologies. This is being done with the aim to achieve 1 billion tonnes coal production by 2023-24.
Addressing a stakeholders’ meet organised by CIL through video conferencing, Minister of Coal and Mines Pralhad Joshi 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.”
Joshi said the company would be investing around ₹14,200 crore by 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.
An official statement said 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.
Investment plan
Out of the proposed spend of over ₹1.22 lakh crore, CIL has planned to invest ₹32,696 crore on coal evacuation, ₹25,117 crore on mine infrastructure, ₹29,461 crore on project development, ₹32,199 crore on diversification and clean coal technologies, ₹1,495 crore on social infrastructure and ₹1,893 crore on exploration works by 2023-24, the statement said.
“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 ₹34,600 crore of which likely investment ending financial year 2024 is about ₹17,000 crore. Evacuation infrastructure is another major area where Coal India will be infusing large sums of money into economy," the statement said.
Investments in rail logistics like developing major railways (about ₹13,000 crore) railway sidings (about ₹3,100 crore) and procurement of own wagons (₹675 crore) would total up to likely investment of over ₹16,500 crore by fiscal 2023-24, the statement added.
Joshi also said that Coal India and its subsidiaries are engaged in procurement of various types of goods, works and services amounting to approximately ₹30,000 crore per year.
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