Coal India eyes 58 mt additional output in FY21: Signs MoU with ministry

Coal Insights Bureau

Coal India plans to produce an additional 57.86 million tons of coal production in FY21 touching 660 mt over 602.14 mt mined in FY20, the PSU mining major has said in its Memorandum of Understanding signed recently with the government.

While production from 3 mines were suspended during 2019-20, 4 new mines are likely to start during 2020-21, CIL’s MoU document states.

Apart from starting 4 mines, Coal India has targeted achieving significant milestones for about 65 mining projects. Relatively larger projects among these are:

♦ Gevra Open Cast expansion (70 mtpa)

♦ Magadh OC (51 mtpa)

♦ Kusmunda OC expansion (50 mtpa)

♦ Jayant (20 mtpa)

♦ Budhichua (20 mtpa)

♦ Ananta OCP Expansion, Phase-III (15 mtpa)

♦ Baroud OC Expansion (10 mtpa)

♦ Pelma OC (15 mtpa)

♦ Bhubaneswari OCP (20 mtpa)

♦ Durgapur OCP (6 mtpa)

♦ Madannagar OCP (12 mtpa)

♦ Amadand OCP (4 mtpa)

Coal India also plans to increase overburden removal in FY21 by a maximum of 34 percent over FY20 level.

In terms of financial health, Coal India has promised to cut down outstanding trade receivables in terms of number of days of revenue from operations from 37 days in FY20 to 14 days in the current year.