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To improve coal output govt recognizes 15 new projects with 160 mtpa limit

To improve coal output and reduce imports, Coal India Ltd (CIL) has recognized 15 new projects with an ability to deliver 160 million tons for each annum, Parliament was informed on Wednesday. Coal India Ltd (CIL) means to accomplish 1 billion tons of coal output by 2023-24.  

The focus point of the government is on expanding domestic production of coal and to accomplish these objectives through the allotment of more coal blocks, seeking with the state government for help with land acquisition and coordinated efforts with rail routes for development of coal 15 greenfield projects related to a limit of around 160 MTPA (Million Tons for every Annum) to be worked by mine developer cum administrator mode, Coal and Mines Minister Pralhad Joshi revealed to Lok Sabha.  

In order to improve domestic production, 25% of coal production has been took into account the offer of coal for the recently allotted hostage coal blocks, he said and added that business mining, with an arrangement for 100% foreign direct investment, has been permitted by the government.  

To improve coal development and accomplish coal production targets, CIL has started various advances, including introduction of mass production technology in large scale manufacturing innovation for underground coal mineshafts. Another coal producing organization Singareni Collieries Company Ltd (SCCL) is wanting to open 11 new mines, remembering two for Talcher in Odisha, the minister said.  

He said an Inter-Ministerial Committee (IMC) has been comprised in the Ministry of Coal with the purpose of coal import substitution with representatives from the Ministry of Power (MoP), Ministry of Railways, Ministry of Shipping, Ministry of Commerce, Ministry of Steel, Ministry of Micro, Small and Medium Enterprises (MSME), Department for Promotion of Industry and Internal Trade (DPIIT), Central Electricity Authority (CEA), Coal Companies and Ports as its individuals.  

This council gives a platform to conversations on a bigger gathering with the regulatory services in order to control them to support the coal buyers of their particular area to kill imports of coal. Nine gatherings of the IMC have been held up until now.  

IMC has additionally coordinated for development of an import information framework by the Ministry of Coal to empower the service to follow the imports of coal. CIL has additionally begun an online entrance to enlist the solicitations of coal purchasers willing for import replacement of coal, the minister said.  

To reduce coal imports, the Annual Contracted Quantity (ACQ) of the force plants have been expanded up to 100 percent of the standardizing necessity in those situations where the ACQ was before diminished to 90 percent of regulating. 

CIL has marked Memorandum of Understanding (MoU) under import replacement for around 12 MTPA coal with the force plants connected with CIL. Appropriately, CIL has allotted 9.53 MT coal to the force plants till February 2021 under import replacement, the coal minister said. 

CA Vikas Jain - Chief Advisor

Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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CA Vikas Jain

CA Vikas Jain - Chief Advisor

Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

Read More

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