Business Today
Loading...

54 mining projects of Coal India Ltd running behind schedule

The coal behemoth said that 18 mining projects with a total rated capacity of 132.04 million tonnes per annum and a total investment of Rs 21,244.55 crores were approved by the board of CIL and its arms during 2019-20

twitter-logoPTI | September 9, 2020 | Updated 18:26 IST
54 mining projects of Coal India Ltd running behind schedule
Nine non-mining projects with a sanctioned capital of Rs 855.52 crore were also approved during the fiscal

State-owned Coal India's 54 mining projects are running behind schedule mainly on account of delays in obtaining green nod and issues related to rehabilitation and resettlement. The development assumes significance against the backdrop of Coal India (CIL) eyeing production of 1 billion tonnes by 2023-24.

In its recent report, CIL said that "123 coal projects costing Rs 20 crore and above are in different stages of implementation out of which 69 projects are on schedule and 54 projects are delayed."

The PSU said that major reasons for the delay in implementation of these projects are delay in obtaining forest clearance (FC) and possession of land and issues related to rehabilitation and resettlement.

The coal behemoth said that 18 mining projects with a total rated capacity of 132.04 million tonnes per annum and a total investment of Rs 21,244.55 crores were approved by the board of CIL and its arms during 2019-20.

Nine non-mining projects with a sanctioned capital of Rs 855.52 crore were also approved during the fiscal, it said.

CIL's three mining projects, with a sanctioned capacity of 9.60 million tonnes per year and sanctioned capital of Rs 1,052.57 crore were completed during 2019-20.

Two coal projects of the PSU with a sanctioned capacity of 4.5 million tonnes per annum and sanctioned capital of Rs 623.99 crore began production in the last fiscal.

Coal India accounts for over 80 per cent of domestic coal output. The PSU is eyeing one billion tonnes of production target by 2023-24.

The state-owned firm will pump in over Rs 1.22 lakh crore on projects related to coal evacuation, exploration and clean coal technologies by FY24, to achieve 1 billion tonnes of fuel output target, Coal Minister Pralhad Joshi had earlier said.

Out of the proposed spend of over Rs 1.22 lakh crore, Coal India has planned to invest Rs 32,696 crore in coal evacuation, Rs 25,117 crore in mine infrastructure and Rs 29,461 crore in project development by 2023-24, the minister had said.

Also Read: Infosys, HCL, TCS employees lead in availing EPF advances under COVID window

Also Read: LIC IPO: Government may go for 25% stake sale in insurer

Also Read: Vi to increase prices? Vodafone Idea CEO Ravinder Takkar says tariff hike important

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close