24 C
Guwahati
Saturday, December 21, 2024

Advancing 119 projects to boost output: Coal India

- Advertisement -
- Advertisement -

Sanctioned capital of Rs 1,33,576 cr

KOLKATA, July 28: Coal India Ltd is advancing 119 projects with a capacity of 896 million tonne per year and a sanctioned capital of Rs 1,33,576 crore, the world’s largest miner said.

- Advertisement -

These projects, which are at various stages of implementation, are part of CIL’s “proactive strategy” to increase production capacity and meet future coal demands, the company said in its latest annual report.

Though the mining major did not specify a timeline for the capex, it said the development of these projects involves substantial investments in advanced mining technologies and infrastructure, aimed at enhancing productivity and ensuring sustainable mining practices.

The Kolkata-headquartered company has set an ambitious target of achieving 1 billion tonne of production by 2025-26 to fulfill the nation’s coal demand and support the goal of ‘Atmanirbhar Bharat’.

In the 2023-24 fiscal, its production stood at 773.6 million tonne.

- Advertisement -

CIL said in 2023-24, one coal mining project with a sanctioned capacity of 20 million tonne and a sanctioned capital of Rs 1,783.09 crore was completed, which demonstrates “our ability to execute large-scale projects within the stipulated time frames”.

During the financial year ended March 31, 16 coal mining projects with a total capacity of 170.46 million tonne per annum (incremental capacity of 85.66 MT) and a total sanctioned capital of Rs 27,087.69 crore were approved, it said.

As part of its comprehensive modernisation strategy, CIL is embracing latest equipment, advanced exploration and assessment techniques, efficient mine planning and development, and optimised extraction processes, the report said.

The company plans to procure high-capacity equipment worth more than Rs 3,700 crore in the next financial year, aiming to bolster coal production capabilities for increased efficiency.

- Advertisement -

The mining major has set a capital expenditure target of Rs 15,500 crore for the 2024-25 fiscal. In line with its investment plans, CIL intends to allocate a significant portion of funds to diversification projects, including solar power, thermal power plants, revival of fertilizer plants, surface coal gasification (SCG) and coal bed methane (CBM) during the year. (PTI)

- Advertisement -
The Hills Times
The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -
10 Places You Can Visit In Jaisalmer This Winter 10 Hill Stations To Visit In Winter Vacation 10 Enchanting Places To Visit In Meghalaya Birds That Migrate To India Every Winter 10 Most Remote Tourist Destinations To Explore This New Year