CIL to invest over Rs 1.22 lakh cr by 2023-24

admin September 1, 2020 Daily Current Affairs

State-owned CIL will pump in over Rs 1.22 lakh crore on projects related to coal evacuation, exploration and clean coal technologies by 2023-24, to achieve 1 billion tonnes of fuel output target, Coal Minister said.
Out of the proposed spend of over 1.22 lakh crore, Coal India Ltd (CIL) has planned to invest Rs 32,696 crore on coal evacuation, Rs 25,117 crore on mine infrastructure and Rs 29,461 crore on project development by 2023-24.
The state-owned company will also invest Rs 32,199 on diversification and clean coal technologies, Rs 1,495 crore on social infrastructure and Rs 1,893 crore on exploration works.
The investment of Rs 1.22 lakh crore will be utilised to fund a total of 500 projects.
First-mile connectivity is the transportation of coal from pitheads to dispatch points.
This is being done to bring in improved efficiency in coal transport and computer-aided loading, replacing the existing road transport between the two points.
Similarly, to raise coal output and reduce import dependency of coal, CIL has identified a total of 15 Greenfield (new) projects to operate through the mine developer and operator (MDO) mode.
It would entail a total investment plan of about Rs 34,600 crore, of which likely investment ending 2023-24 pegged at about Rs 17,000 crore.