Coal Min sets 1-bn tonne target for FY; aims Rs 50k-cr asset monetisation

The Union Ministry of Coal has set a 1-billion tonne (bt) coal production target by the end of the current fiscal year, on the back of enhanced private coal mining. Of the targeted 1 bt, national miner Coal India (CIL) will produce 780 million tonnes (mt), while privately owned captive and commercial mines will contribute 162 mt, the balance by The Singareni Collieries Company.

In the action plan prepared by the coal ministry, it said the government was confident of awarding 25 more mines this fiscal year to private players.

To date, 133 coal mines with a peak-rated capacity of 515 mt have been awarded since 2015 to private companies. Of these, 27 have commenced production.