Coal India on Rs 10,000 crore equipment buying spree


Coal India on Rs 10,000 crore equipment buying spree

Coal India has embarked upon a Rs 10,000 crore shopping spree for latest highcapacity mining equipment as it aims to meet a target of producing 660 million tonnes of black diamond in 2019-20, a move that will require raising annual output by 8-9% in the current fiscal.

“Coal India’s journey began with 700 mines and seven lakh workers after it was created through nationalisation of coal mines. Today, there are 369 mines and three lakh workers. We closed 2018-19 with a production of 607 million tonnes. Some 70% of this production came from 40 mines, where we have modern equipment and technology.

Equipment has to be upgraded in other mines to raise output quickly and efficiently,” company chairman Anil Kumar Jha told TOI. He said the company would be spending Rs 2,000 crore a year over the next five years to acquire high-capacity earth-moving and excavating equipment. Read More

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