Thursday, 6 August, New Delhi: State-owned Coal India (CIL) will invest Rs 13,900 crore to take its production to 908 million tonnes (MT) by 2019-20, the government said today.
“Coal India (CIL) has prepared a roadmap for achieving a coal production level of about 908 MT in 2019-20 from the current level of production of 494.23 MT,” Coal and Power Minister Piyush Goyal said in a written reply to Lok Sabha.
The envisaged investment for meeting the projected production of 908 million tonnes is Rs 13,900 crore the minister said adding that “the same is planned to be met from internal resources of Coal India Ltd.”
The minister further said that the domestic capital expenditure by Coal India and its subsidiaries up to June in the current financial year is Rs 1,026.77 crore.
Coal India accounts for over 80% of the domestic coal production.
The state-run firm missed the production target for the financial year 2014-15 by 3% recording an output of 494.23 million tonnes. The company’s output target was 507 million tonnes for the fiscal.
For the ongoing fiscal the government has set for CIL an output target of 550 MT.