Coal India Ltd to invest over Rs 1.22 crore on development of nearly 500 projects
Coal India Ltd (CIL) will invest over Rs 1.22 crore on development of nearly 500 projects related to coal evacuation, infrastructure, project development, exploration and clean coal technologies in the country.
Coal India Ltd (CIL) will invest over Rs 1.22 crore 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 achieves the production target of 1 billion tonnes by 2023-2024.
Union Minister of Coal and Mines Pralhad Joshi while addressing a stakeholders' meet organized yesterday by CIL through video conferencing said the involvement of all concerned stakeholders in company's affairs will reduce and uncover the project risks.
Shri. Pralhad Joshi, Hon'ble Minister of Coal chaired a "Stakeholders Meet" organized by CILHq. via video conferencing. Shri. Pramod Agrawal, Chairman, CIL, FD's, CIL, CMDs of CIL subsidiary companies & over 316 stakeholders participated in the online meet. pic.twitter.com/WdEoRn2Afz— Coal India Limited (@CoalIndiaHQ) September 1, 2020
He informed that the national miner, CIL, will be investing around Rs 14,200 crore 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 Rs 34,600 crore 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 have 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.