Coal India Ltd has sanctioned Rs 2,294.79 crore for four new mining projects

Coal India Ltd has sanctioned Rs 2,294.79 crore for four new mining projects with an estimated capacity of 12.5 million tonnes.

The miner has identified a total of 126 projects with an estimated capacity of 438.04 million tonnes to be taken up during the 12th Plan period.

'Of the 126 projects, project reports of 78 have already been formulated,' CIL Chairman and Managing Director S Narsing Rao said in his speech during the company's annual general meeting (AGM) today.

Of these, 60 are envisaged to contribute about 88 MT during the terminal year of the 12th Five-Year Plan (2016-17),' he said.

Rao also said a sum of Rs 2,294.79 crore has been sanctioned for four new mining projects with an estimated capacity of 12.5 million tonnes.

CIL had proposed a capital outlay of Rs 25,400 crore in the 12th Plan period in addition to an ad-hoc provision of Rs 35,000 crore to acquire coal assets abroad and develop the acquired coal blocks in Mozambique.

Source; Business Standard