Cil Propses Rs. 25,400.00 Crore’s Investment for Coal Production

Coal India Limited (CIL) has proposed for an investment/ capital outlay of Rs. 25,400.00 crore for the Twelfth Five Year Plan, the details of which are:

                                                                                                                      Fig. in Rs. Crore

This information was given by Shri Pratik PrakashBapu Patil, Minister of state for coal in a written reply in Rajya Sabhatoday. He said that CIL has proposed an ad-hoc provision of Rs. 35,000 crore for acquisition and development of coal assets abroad during the XIIth  Plan period. Out of the aforesaid amount  Rs. 10,000 crore has been allotted for exploration and development of 2 allotted coal blocks and creation of  logistic infrastructure in Mozambique and the balance Rs.25,000 crore has been kept for acquisition and development of coal blocks in other countries like South Africa, Indonesia, Australia, USA, Columbia,  etc. The exploration activities are in progress in the allotted two coal blocks in Mozambique. Further, CIL has issued a notice on 27^th February, 2013 inviting  proposals from investment bankers, owners/ representatives for acquisition of coal assets abroad.

The Minister added that the annual production expected from coal assets acquired / to be acquired abroad would depend upon the specific production potential of each of such coal block or mine. At this stage it will not be possible to estimate the quantity of additional annual coal production  arising out of investment of Rs 35,000 crore.

The decision regarding use of additional production envisaged and the companies to whom such coal will be sold would depend upon the type/quality of saleable  coal  available from CIL & mines in Mozambique and other coal assets expected to be acquired in other countries.