State-run Western Coalfields Limited (WCL) plans to invest around Rs 6,500 crore over five years to increase its coal production, a senior company official said here.
The company also hopes to cross 50 million tonne of coal production in the current financial year.
"WCL will be investing about Rs 6,500 crore in the next five years without any borrowing. We will be starting 12 new projects, six each in Maharashtra and Madhya Pradesh," chairman and managing director Rajiv Ranjan Mishra told reporters here.
The six new projects in Maharashtra will be Murpar UG, Pauni Combined OC, Pimpalgaon Deep OC, Shivani OC, Silori OC and Kumbharkhani OC, while those in Madhya Pradesh will be Dhankasa UG, Sharda UG, Tawa-3 UG, Gandhigram UG, Barkui- Chandameta and Kalyani Patch-Vishnupuri OC.
He further said the company has already registered highest ever growth of 18.7 percent in production and 22.2 percent growth in despatch during first quarter (April-June) of FY19.
"We have recovered the losses incurred in last two years and improving our financial performance," Mishra added.
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