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Public sector entity Coal India Ltd has
indicated that it might expand its XII Plan
capital investment programme by Rs.14,500
crore. Together with the originally-planned
capex of Rs.25,400 crore, the total outlay
would thus work out to Rs.39,900 crore. The
additional expenditure would be subject to
faster regulatory approvals like environmental
clearance and faster progress on land
acquisitions.
With the enhanced capital outlay, CIL could
surpass the production target of 615 million
tonnes set for FY17, the terminal year of the XII
Plan period. In FY12, the final year of the
bygone XI Plan, the coal miner clocked
production of 435.82 million tonnes.
Performance in FY13: Coal India achieved
98 per cent of its production target and 97 per
cent of offtake target during the first five months
(April-August) of the current financial year. The
production target for the FY13 (April to March)
stands at 464.1 million tonnes against which
actual performance in the first five months
stood at 162.86 million tonnes - 7 per cent
higher than the comparable production in
FY12. While overall production has shown an
increase, output from underground mines has
seen a decline.
Coal India Ltd accounts for over 80 per cent
of India's total coal production and is said to be
the largest coal mining company in the world.
India is the third largest coal producer in the
world after China and USA, with commercial
coal mining beginning as early as 1774.
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