Coal India to invest over Rs 1.22 lakh crore on 500 projects by 2023-24
Coal India Ltd (CIL) will invest over 1.22 lakh crore rupees on development of nearly 500 projects related to coal evacuation, infrastructure, project development, exploration and clean coal technologies in the country. The investment aims at making India self-reliant in terms of coal and achieve the production target of 1 billion tonnes by 2023-2024.
Addressing a stakeholders meet organized by CIL, Coal and Mines Minister Pralhad Joshi said involvement of all concerned stakeholders in company’s affairs will reduce and uncover the project risks. He informed that the national miner, CIL, will be investing around 14 thousand 200 crore rupees over the next 3 to 4 years, in two phases for its 49 First Mile Connectivity projects. First Mile Connectivity is the transportation of coal from pitheads to dispatch points. Computer-aided loading technology of coal is being developed to replace the existing methodology of transportation via road.