Coal India to invest over Rs.1.22 lakh crore on 500 projects by 2023-24

Coal India Ltd (CIL) will invest over 1.22 lakh crore rupees on development of nearly 500 projects related to coal evacuation, infrastructure, project development, exploration and clean coal technologies in the country. The investment aims at making India self-reliant in terms of coal and achieve the production target of 1 billion tonnes by 2023-2024.

 

Addressing a stakeholders meet organized by CIL, Coal and Mines Minister Pralhad Joshi said involvement of all concerned stakeholders in company’s affairs will reduce and uncover the project risks. He informed that the national miner, CIL, will be investing around 14 thousand 200 crore rupees over the next 3 to 4 years, in two phases for its 49 First Mile Connectivity projects. First Mile Connectivity is the



transportation of coal from pitheads to dispatch points. Computer-aided loading technology of coal is being developed to replace the existing methodology of transportation via road.

 

Coal India has also identified 15 greenfield projects which will be operated under the Mine Developer and Operator (MDO) model. Overall nearly 34 thousand 600 crore rupees will be invested through this route. 

In the meeting, Coal India also announced an array of measures for relaxations and exemptions for greater participation of its stakeholders. The experience criteria has been brought down from 65 per cent to 50 per cent for mining tenders, while work experience criteria are relaxed by 50 per cent in turnkey contracts.