CIL to invest over Rs. 1.22 tn on 500 projects by 2024
07 September 2020
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) will invest over Rs. 1.22 lakh crores on about 500 projects related to coal evacuation, infrastructure, project development, exploration, and clean coal technologies, said Union Minister of Coal and Minster, Pralhad Joshi.
Addressing a Stakeholders Meet organised by CIL through video conferencing, he said: "Engagement and involvement of all concerned stakeholders in the 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."
The company would be investing around Rs. 14,200 crores by the year 2023-24, in two phases for its 49 First Mile Connectivity projects. The 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, he said.
Out of the proposed spend of over Rs. 1.22 lakh crores, the CIL has planned to invest Rs. 32,696 crores on Coal Evacuation, Rs. 25,117 crores on Mine Infrastructure, Rs. 29,461 crores on project development, Rs. 32,199 on diversification and clean coal technologies, Rs. 1,495 crores on social infrastructure and Rs. 1,893 crores on exploration work by the year 2023-24.