NEW DELHI: State-owned coal sector major Coal India Limited (CIL) is seeking a review on the government-set 1 billion tonnes per annum coal production target intended to be achieved by 2020. The coal major has pointed out that the Paris Protocol on climate change is likely to result in coal demand falling. The government had set the target in 2014-15.
However, in its annual report for 2017-18, CIL noted that "consequent upon the outcome of Paris Protocol on climate change and changes in the environmental paradigm and coal demand, there was an urgent need of revisiting the 1 billion tonnes programme".
The world's largest miner of coal said the coal ministry was now in the process of finalising the Vision 2030 document for the coal sector in which projection for likely demand of coal in the country was being assessed with consultation from the power ministry and taking into account the scenario that had emerged due to Paris protocol. The document is likely to be finalised shortly.
"In view of above, roadmap for coal production beyond 2018-19 along with other related issues would be re-looked on the basis of that demand forecast," it said.
CIL is also looking forward to diversifying its operations towards renewable energy like solar power and clean energy sources like CMM and CBM, the report added. The PSU has lined up around `9,500 crore of capital expenditure for 2018-19, and has planned to invest substantial amounts in various projects like ultra mega power projects (UMPP), solar power, revival of fertiliser plants, acquiring coking coal assets in Australia and Canada, coal gasification, CBM etc. during the current financial year.