National Miner Coal India Ltd (CIL) will invest over Rs. 1.22 lakh crores on about 500 projects
Addressing the stakeholders, the Coal Minister Pralhad Joshi said that avenues for business opportunities with Coal India are huge. The company would be investing around Rs. 14,200 Crores by the year 2023-24, in two phases for its 49 First Mile Connectivity projects. He added that First Mile Connectivity is the transportation of coal from pitheads to dispatch points. He further said that this is being done to bring in improved efficiency in coal transport and to undertake computer-aided loading replacing the existing road transport between the two points.
Out of the proposed spend of over 1.22 lakh crores, CIL has planned to invest Rs. 32,696 crores on Coal Evacuation, Rs. 25117 crores on Mine Infrastructure, Rs. 29461 crores on Project Development, Rs. 32,199 on diversification & clean coal technologies, Rs. 1,495 crores on social infrastructure and Rs. 1,893 crores on exploration works by the year 2023-24.
Further, in a transformative plan to increase coal output and reduce import dependency of coal in the ensuing years, Coal India has identified a total of 15 greenfield projects to operate through the Mine Developer and Operator (MDO) model that would entail a total investment plan of about Rs. 34,600 Crores of which likely investment ending the financial year 2024 is about Rs. 17000 Crores.
Evacuation infrastructure is another major area where Coal India will be infusing large sums of money into the economy. Investments in rail logistics like developing major railways (about Rs. 13000 Crores) railway sidings (about Rs.3100 Crores) and procurement of own wagons (Rs. 675 Crores) would total up to likely investment of over Rs. 16500 Crores by FY 23-24.
The Minister said that Coal India and its subsidiaries are engaged in procurement of various types of Goods, Works, and Services amounting to approximately Rs. 30,000 crores per year. This is where the role and importance of stakeholder steps in. He added that Coal India in its endeavor to procure goods, works, and services in a fair, transparent, and equitable manner has made numerous updates, changes in its Manuals and Guidelines for the benefits of vendors and stakeholders to enhance the ‘Ease of Doing Business’ and adherence to principles of transparency.