Kolkata (NVI): Coal India is set to produce one billion tonnes of coal by 2024 and 750 million tonnes of coal by the Financial Year 2020-21, Minister of Coal & Mines Pralhad Joshi has said.
The Minister announced this target during his address at the 45th Foundation Day of CIL here on November 1.
The CIL currently produces around 660 million tonnes of coal amounting to 82% 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.
Speaking on the occassion, Joshi said 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 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,” Joshi said.
“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”, he added.
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.