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CIL allots funds for new mining projects

Thursday, 19 Sep 2013

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Coal India has allotted Rs 2,294.79 crore for four new mining projects with an estimated capacity of 12.5 million tonne.

The company has identified a total of 126 projects with an estimated capacity of 438.04 million tonne to be taken up during the 12th Plan period. Of the total projects, project reports of 78 have already been formulated. Out of the 78, 60 are envisaged to contribute about 88 million tonne during FY17.

CIL had proposed a capital outlay of Rs 25,400 crore in the 12th Plan period in addition to an ad-hoc provision of Rs 35,000 crore to acquire coal assets abroad and develop the acquired coal blocks in Mozambique.