Coal India to Invest ₹91,000 Crore in Diversification and Mine Development Projects by 2025-26: CMD PM Prasad
According to news agency PTI, Coal India will be investing ₹91,000 crore in various projects, including diversification and mine development, by 2025-26. The Public Enterprises Selection Board (PSEB) recently recommended PM Prasad as the next Chairman and Managing Director of Coal India. Prasad is expected to take charge of India’s largest coal miner, which accounts for almost 80% of the mined commodity, from July 1.
PM Prasad, the Central Coalfields CMD, revealed that the diversification and other projects put together will amount to ₹91,000 crore, which will be invested until 2025-26. Approximately ₹36,000 crore will be spent on gasification projects, while another ₹46,000 crore will be invested in mining developers cum operators (MDOs) and other contracts. The remaining ₹9,000 crores will be spent on various other projects.
The government has decided to promote coal gasification in a big way, which can yield multiple energy, chemical, and petro-chemical products, most of which are being imported presently. Coal India has already done three tenders for coal gasification projects and has signed pacts with BHEL, GAIL, and IOCL to set up four coal gasification projects and one lignite gasification project to promote indigenous gasification technology.
On diversification, Prasad stated that Coal India is installing solar panels on land and rooftop. The diversification drive will include bauxite mines, aluminum smelters, power plants, and other projects.
Coal India has identified 15 greenfield projects with a total project-rated capacity (PRC) of 168.58 million tonnes per annum for implementation through MDO mode. Nine of these projects, with a production capacity of around 127 MT, have received Letters of Award to be implemented through MDOs, while the remaining six projects are at different stages of implementation. Eleven of the 15 projects are opencast, and the remaining four are underground mines.
With a manpower of 2,48,550, Coal India is the largest coal producer in the world and one of the largest corporate employers. It functions through its subsidiaries in 84 mining areas spread over eight states.
About Coal India:
Coal India Limited, a central public sector undertaking owned by the Ministry of Coal, Government of India, has its headquarters in Kolkata. It stands as the world’s largest government-owned coal producer and is also the seventh largest employer in India, with approximately 272,000 employees.
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