Minister of Coal & Mines, Shri 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 tonneof 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 currentlygiven the target of producing 660 million tonnes of coal amounting to 82% of the country’s coal output.
“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.
Shri Pralhad 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% FDI under automatic route in coal sector, as one of the much-needed structural reforms in the sector, he said that itwill 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 reiteratingthat FDI in coal does not stand for FDI in Coal India.
The CMD Coal India Shri Anil Kumar Jha along with senior officials and trade union leaders participated in the event.