Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi today said that during the last four months Coal India Ltd has set new record by producing around 207-million-ton coal. The Minister also said that in the near future more than 107 coal blocks will be made available for auction by the Ministry of Coal.
The union minister was addressing a function which also saw the attendance of Minister of State for Coal, Mines & Railways, Raosaheb Patil Danve, Secretary Coal Anil Kumar Jain, Additional Secretary M. Nagaraju and other senior functionaries of the ministry. The event marked the successful allocation of 43 coal mines till date since the launch of commercial coal mining in the country by the Prime Minister Narendra Modi in June, 2020.
"Ministry of coal is targeting production of 900 million tonnes this financial year and the target of CIL comes to 700 million tonnes. The total annual revenue generation from these three tranches of commercial auction is estimated at Rs.4286.53 crore considering production at aggregated Peak Rate Capacity level of 23.77 million ton per annum. Once fully operational, these coal mines are expected to generate employment for 31,954 persons directly & indirectly. A total investment of Rs 3565.50 crore will be incurred to operationalise these mines," the Coal ministry noted.
SBI Capital Markets Limited, transaction advisor to the Ministry of Coal for commercial coal mine auction, had devised the methodology and assisted the Ministry in the auction process.
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