Coal India has assessed a tentative capital investment of Rs 57,000 crore for the next five years to ramp up its coal production to 908.1 MT (million tonnes) from the production...
level of 494.80 MT in 2014-15, Coal and Power Minister Piyush Goyal said in a written reply to the Lok Sabha on December 3.
The tentative capital investment projection for 2015-16 is Rs 5,990.5 crore, 2016-17 is Rs 8,282 crore, 2017-18 is Rs 14,539 crore, 2018-19 is Rs 14,635 crore, 2019-20 is Rs 13,529 crore, the minister said.
Goyal also said that CIL has envisaged to invest Rs 8,615.69 crore in the three major railway infrastructure projects-Tori-Shibpur in CCL (Jharkhand), Jharsuguda-Barapalli in MCL (Odisha) and East and East-West corridor in SECL (Chhattisgarh) for coal evacuation.
The government has set an ambitious one billion tonne (BT) coal production target for Coal India by 2020. Coal India Limited (CIL) as an organized state-owned coal mining corporate came into being in November 1975 with the government taking over private coal mines. With a modest production of 79 MTs at the year of its inception, CIL today is the single largest coal producer in the world. Operating through 81 mining areas, CIL is an apex body with 7 wholly owned coal producing subsidiaries and 1 mine planning and Consultancy Company spread over 8 provincial states of India. CIL also fully owns a mining company in Mozambique christened as 'Coal India Africana Limitada'. CIL also manages 200 other establishments like workshops, hospitals etc. Further, it also owns 26 technical & management training institutes and 102 Vocational Training Institutes Centres. Indian Institute of Coal Management (IICM) as a state-of-the-art Management Training 'Centre of Excellence' - the largest Corporate Training Institute in India - operates under CIL and conducts multi-disciplinary management development programmes.