In a bid to augment its output to 908 million tonnes in next five years, Coal India will invest Rs 62,590.50 crore by 2019-20, the government said today.
"Coal India (CIL) has prepared a road-map for achieving a coal production level of about 908 MT in 2019-20 from the current level of production of 494.23 MT," Coal and Power Minister Piyush Goyal said in a written reply to Lok Sabha.
The envisaged investment for meeting the projected production of 908 million tonnes is Rs 62,590.50 crore in five years to 2019-20.
The minister said the planned investment would be "met from internal resources of Coal India Ltd".
Goyal further said that the domestic capital expenditure by the state-run firm and its subsidiaries up to June in the current financial year is Rs 1,026.77 crore.
Coal India accounts for over 80 per cent of the domestic coal production.
It missed the production target for the financial year 2014-15 by 3 per cent, recording an output of 494.23 million tonnes. The company's output target was 507 million tonnes for the fiscal.
For the ongoing fiscal the government has set for CIL an output target of 550 MT.
