Coal India Limited (CIL) to invest $20 billion in the next five years
Updated: May 16, 2015 02:23:14pm
New Delhi, May 16 (KNN) Coal India Limited (CIL) set a target to attain 1 billion tonne of coal production by 2019-20. This would entail a ballpark investment of $20 billion, Minister of Power, Coal and New & Renewable Energy Piyush Goyal has announced recently. The investment will be phased over the next five years,
Reeling under a severe shortage of coal both coking and non- coking, India’s import of coal is set to increase rapidly over the next few years. Raising the domestic Coal production is a challenge before the Government towards enhancing power supply and supporting the manufacturing sector.
Mr. Goyal said that the money would be spent in technology, equipment and upgrade of the existing facilities. A part of it will also go towards setting up infrastructure for evacuation.
The investment amount had been arrived at following a detailed action plan. According to the Minister, the balance sheet of CIL was strong enough to support the capital expenditure programme. The increase in production will be from the existing mines and also the new ones. (KNN/DB)
Reeling under a severe shortage of coal both coking and non- coking, India’s import of coal is set to increase rapidly over the next few years. Raising the domestic Coal production is a challenge before the Government towards enhancing power supply and supporting the manufacturing sector.
Mr. Goyal said that the money would be spent in technology, equipment and upgrade of the existing facilities. A part of it will also go towards setting up infrastructure for evacuation.
The investment amount had been arrived at following a detailed action plan. According to the Minister, the balance sheet of CIL was strong enough to support the capital expenditure programme. The increase in production will be from the existing mines and also the new ones. (KNN/DB)
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