Coal India arm NCL contributed Rs 15,000 cr to govt exchequer in FY24: CMD

Northern Coalfields Ltd (NCL) CMD B Sairam also reaffirmed the company's commitment towards fulfilling the energy security of the nation

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Northern Coalfields Ltd (NCL) CMD B Sairam on Saturday said that the company despatched 94 per cent of its total coal to the power sector and contributed Rs 15,000 crore to the central as well as state exchequer in FY24 in the forms of royalty and GST.

Sairam also reaffirmed the company's commitment towards fulfilling the energy security of the nation.

Speaking at the sidelines of Singrauli Industrial Summit 2024 organised by NCL at its headquarters, the CMD of the Coal India arm also outlined the company's contribution to the inclusive development of the Singrauli region.

He also underscored the benefits of adopting an integrated approach based on shared values for the holistic development of Singrauli.

The summit was organised with the objectives of driving economic growth, sustainable industrial growth, diversification, harnessing the full industrial potential, and creating employment opportunities with socio-economic upliftment and regional development.

The summit marked brainstorming discussions about creating opportunities in various sectors like energy, aluminum, cement, chemicals, and infrastructure. Besides, a panel discussion was held on the long-term development of Singrauli region.

In the summit, an e-book named 'Industrial Landscape of Singrauli Region' was also released.

NCL is eyeing 139 million tonnes (MT) of coal production and dispatch in the current fiscal. In 2023-24 NCL had produced 136.15 MT of coal, despatched 137.63 MT of coal, and spent Rs 4,727 crore as capital expenditure.

NCL is a Singrauli-based flagship subsidiary of Coal India operating out of 10 highly mechanised opencast coal mines located in the Singrauli and Sonbhadra regions of Madhya Pradesh and Uttar Pradesh, respectively.