CIL to produce one bn tonne of coal by 2024

Minister of Coal & Mines, Pralhad Joshi said that the Coal India Limited (CIL) will produce 750 million tonnes of coal by the Financial Year 2020-21 and would further produce one billion tonne of coal in the financial year 2023-24. The Minister announced this target during his address at the 45th Foundation Day of CIL in Kolkata today. The CIL is currently given the target of producing 660 million tonnes of coal amounting to 82 per cent of the country’s coal output. The CIL is also likely to offer around ten thousand new jobs to boost employment Joshi directed CIL to take necessary steps to achieve this goal in light of growing energy requirements of the nation and assured CIL of all possible help from the Ministry of Coal in this regard.

“It is heartening to know that Coal India has planned for huge capital investments for its works and expansion programs, along with bringing in new technologies in its operations. The company will also be on hiring personnel and I am hopeful that it will achieve all assigned goals on time.” the minister said.

Joshi said that with the demand for power rising steeply, there is enough opportunity for both government and private sectors to produce coal without adversely impacting each other. Referring to the central government’s recent decision of 100 per cent FDI under automatic route in coal sector, as one of the much-needed structural reforms in the sector, he said that it will minimize the volume of coal import and will be mutually beneficial. The Minister sought to allay the fears of domestic players and labour unions by reiterating that FDI in coal does not stand for FDI in Coal India.

During his address, the Minister urged Coal India to get associated Jal Shakti Abhiyan to conserve water and provide treated mine water to the populace living in and around coal mining areas. The minister also enumerated the milestones in policy reforms of the Government like introduction of e-auction for allocation of captive coal blocks, Scheme for Harnessing and Allocating Koyala Transparently in India (SHAKTI), Third party sampling of coal, re-gradation of coal mines in India etc.The CMD Coal India Anil Kumar Jha along with senior officials and trade union leaders participated in the event.