(ET)
Coal India has firmed up plans to spend Rs 56,000 crore on 66 coal projects with an annual peak production capacity of 500 million tonnes. The projects are at various stages of implementation and according to a memorandum of understanding (MOU) signed between Coal India and the ministry of coal over the state-run company’s fiscal 2020 targets, almost 55% of the total capital outlay would be undertaken by South Eastern Coalfields (SECL) which is working on 23 projects with a total peak production capacity of 192 million tonnes.
SECL is the largest coal producing subsidiary of Coal India, contributing almost a fourth of the total production at 157 million tonnes in 2018-19. The sanctioned capital for projects undertaken by SECL is around Rs 30,783 crore.
Mahanadi Coalfields is currently working on 11 projects with a peak production capacity of around 156 million tonnes, entailing investment of Rs 8,519 crore. It was the second largest contributor to Coal India’s production last year. Western Coalfields is working on 15 projects with a total peak rated capacity of around 35 million tonnes and would be investing Rs 5,949 crore.
