Ministry of Coal’s action plan for 2023 -24 targets 1,012 mt of coal production

The Ministry of Coal has conceptualised an action plan for 2023-24 with the goal of enhancing the production, efficiency, and sustainability of the coal sector.

The ministry has set a total coal production target of 1,012 millon tonne (mt) for 2023-24. The capex target for 2023-24 is Rs 210.30 billion (Coal India Limited: Rs 165 billion, NLC India Limited: Rs 28.80 billion and Singareni Collieries Company Limited: Rs 16.50 billion). The overall projected target of asset monetisation plan for 2023-24 is Rs 501.19 billion. During 2022-23, the ministry signed agreements for a total of 23 coal mines having cumulative peak rated capacity (PRC) of 33.224 mt per annum and these mines are expected to generate an annual revenue of Rs 47 billion calculated at PRC. It is expected that 25 coal mines will be allocated during 2023-24 for commercial mining.