Coal India to boost output with Rs 1.33 lakh crore investment in 119 projects

Massive coal expansion: Coal India Ltd (CIL) is pushing forward with 119 projects, amounting to a capacity of 896 million tonnes annually and an investment of Rs 1,33,576 crore. This move is part of the company’s strategy to expand production capacity and meet future coal demands, as noted in its recent annual report.

Future-focused mining investments

These projects, in various stages of implementation, are notable investments in advanced mining technology and infrastructure, aimed at increasing productivity and promoting sustainable mining practices.

While CIL hasn't specified the exact timeline for these investments, the Kolkata-based company has set a goal to achieve 1 billion tonnes of production by 2025-26, supporting the 'Atmanirbhar Bharat' initiative.

For the fiscal year 2023-24, CIL's production reached 773.6 million tonnes. During this period, the company completed a coal mining project with a capacity of 20 million tonnes and an investment of Rs 1,783.09 crore, demonstrating its capability to complete large-scale projects on time. 

Additionally, 16 new coal mining projects were approved, adding a total capacity of 170.46 million tonnes per annum (an increase of 85.66 million tonnes) and an investment of  Rs 27,087.69 crore.

Modernising mining operations

CIL’s modernisation strategy includes adopting the latest equipment, advanced exploration techniques, efficient mine planning, and optimised extraction processes. 

The company plans to invest over Rs 3,700 crore in high-capacity equipment next year to enhance production efficiency.

For the fiscal year 2024-25, CIL has set a capital expenditure target of Rs 15,500 crore. A portion of these funds will be directed towards diversification projects, such as solar power, thermal power plants, the revival of fertiliser plants, surface coal gasification (SCG), and coal bed methane (CBM).

(With PTI Inputs)