State-run Coal India Ltd (CIL) has approved 32 mining projects in the current financial year till January, which may see investment of approximately Rs. 47 300 crore as the company seeks to replace imports and move towards its 1 billion t coal production target by 2023 – 2034.
While 24 of the 32 are an expansion of the existing projects, the rest eight are new greenfield projects.
The PSU commented: “Scripting a record high...CIL approved 32 coal mining projects in the current fiscal till January 2021.”
CIL board and boards of the respective subsidiary companies have given their approval for the move.
The combined incremental peak capacity of these projects is projected at 193 million tpy.
CIL’s three subsidiaries South Eastern Coalfields, Central Coalfields, and Mahanadi Coalfields with 167 million tpy form the bulk at 86.5%. This will be in addition to the already sanctioned capacity of 303.5 million tpy.
India’s coal users imported a record 248.5 million t of the fuel in FY20. The miner has lined up a total investment of approximately Rs. 92 000 crore for its coal projects with an aim to achieve 1 billion production target, which include likely investment in coal evacuation infrastructure, mining infrastructure, project development and social infrastructure.
However, CIL is also coming up with an estimated likely investment of about Rs. 12 600 000 crore involving 506 projects, which include likely investment in clean coal and diversification initiatives.
Read the article online at: https://www.worldcoal.com/coal/11032021/coal-india-approves-32-mining-projects/