Coal India miner to invest Rs 8,500 crore capital expenditure in 2017-18

The miner has further planned to invest Rs 6,500 crore in various projects for solar power, acquisition of coal blocks in India and abroad, coal gasification and more.

Published: 16th August 2017 11:12 AM  |   Last Updated: 16th August 2017 01:19 PM   |  A+A-

Coal India will close down high-risk mines that are beyond mitigation. (File photo | AP)

Image for representational purpose only. (File photo | AP)

By IANS

KOLKATA: Coal India Ltd (CIL), which produces 84 per cent of the country's total output of the mineral, has planned to invest Rs 8,500 crore as capital expenditure in 2017-18, its latest annual report said.

"The capital expenditure for the year 2017-18 has been set at (Rs) 8,500 crore," the miner said in its annual report.

The miner has further planned to invest Rs 6,500 crore in various projects -- Super Critical Thermal Power Plant (STPP), solar power, revival of fertiliser plants, coal gasification, acquisition of coal blocks in India and abroad, and CBM (coal bed methane) etc during 2017-18, the report said.

In the current fiscal, the target of coal production has been pegged at 600 million tonnes (mt) with an annual growth of about 8.3 per cent over the achievement of last year. In 2018-19, the envisaged coal production projection is 773.70 mt with a growth of about 28.95 per cent.

CIL has envisaged a coal production of 908.10 mt in 2019- 20 with a CAGR (compound annual growth rate) of 12.98 per cent with respect to 2014-15.

According to the report, the miner in view of Paris Protocol and consequent changes in world energy scenario is looking forward to diversify its operations towards renewable energy like solar power and clean energy sources like coal mine methane, coal bed methane, coal to liquid and underground coal gasification etc following the central government's directives.

"Following that mission, MoC/CIL (Ministry of Coal/ Coal India Ltd) is in the process of formulating Vision Document 2030 to decide future course of operation for sustainable entity in the nation's energy sector," the report added.

 

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp