The Indian government has said that investments worth US$250 billion are planned in coal, power and renewable energy over the next five years. The government is also looking at opening 40-50 new coal mines in the next 18 months.
“The Power, Coal and Renewable energy sectors have plans to invest nearly US$250 billion in the next five years. In the coal sector we are looking at opening nearly 40-50 new mines in the next one and half year,” Coal and Power Minister Piyush Goyal recently said in a seminar.
Western Coalfields Ltd, a subsidiary of Coal India Ltd, is solely planning on opening around 12 mines in the next 12 months, he said. “On the transmission side, we are looking at nearly a hundred thousand crores worth of new lands being bid out in next six months. All of this will lead to massive investment in coal sector,” Goyal said.
The Coal and Power Minister also spoke of his optimism that a billion t of coal production by Coal India Ltd by 2020 would be attained.
He added that it is a ‘win-win situation for India’ and a ‘big thumbs up’ to Prime Minister Narendra Modi’s vision to provide round the clock power to every part of the country.
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