Coal Ministry Action Plan 2023 -24 targets 1012 MT coal production
New Delhi/IBNS: The Ministry of Coal has finalised the total coal production target of 1012 MT for FY 2023-24.
The target is part of an action plan for the FY 2023-24, the ministry said, adding that the government aims at enhancing the production, efficiency, sustainability, new technologies, etc. in the coal sector and “an ambitious, well-crafted roadmap, covering a variety of areas” has been set.
The capex target for FY 2023-24 is Rs 21030 crore—Rs16,500 crore for Coal India Ltd (CIL); Rs 2,880 crore for Neyveli Lignite Corporation India Ltd (NLCIL) and Rs1650 crore for Singareni Collieries Company Ltd (SCCL).
The overall projected target of the Assets Monetization plan for FY 2023-24 is Rs. 50,118.61 crores as per the action plan.
During FY 2022-23, the ministry signed agreements for a total of 23 coal mines having cumulative PRC of 33.224 MTPA, and these mines are expected to generate an annual revenue of Rs 4,700.80 crores calculated at PRC (Peak Rated Capacity).
These mines are expected to provide both direct and indirect employment to 44,906 people.
Considering the good response received for the 6th round of commercial auctions, it is expected that 25 coal mines will be allocated during FY 2023-24 for commercial mining.
To restore the ecological balance in the mined-out areas, mine closure activities will begin this year at a significant number of CIL and SCCL mines as per the guidelines issued by the Ministry of Coal in October 2022 (Scientific Closure of Closed/Abandoned/Discontinued Mines before the Year 2009), the Coal Ministry said.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
KL Rahul slams century, India take comfortable lead over West Indies
Sonam Wangchuk's wife moves Supreme Court challenging activist's detention under NSA
India will never allow any humiliation: Putin praises 'balanced and wise leader' Modi slamming US tariffs
Ontario cinema cancels Kantara, They Call Him OG shows after arson, shooting
