State-owned miner Coal India Limited (CIL) will invest US$20 billion in a bid to attain the one billion t coal production mark by 2019-20.
Coal Minister Piyush Goyal commented that the money will be invested technology, equipment and the upgrade of the existing facilities. He added, " part of it will also go towards setting up infrastructure for evacuation".
The ministry of coal has released a statement reading that with the projected coal demand of the country reaching around 1200 million t by 2019-20, at a predicted growth rate of 7%, CIL is expected to contribute one billion t, of which 908 million t is the expected contribution from the identified projects.
The most crucial issues that CIL is facing are reliance upon timely completion of three critical railway lines, prompt land acquisition, and green clearance.
CIL will purchase 2000 railway from its own funds to overcome the problem of coal evacuation. The coordination with railways for implementation has already been initiated.
During the last fiscal year, CIL production was 494 million t, 3% short of the company’s target.
Read the article online at: https://www.worldcoal.com/coal/18052015/cil-targeting-billion-production-mark-2289/