MCL lines up Rs.20,000-cr capex to ramp up output
Coal India Ltd (CIL) subsidiary Mahanadi Coalfields Ltd (MCL) has unveiled a `20,000 crore capital expenditure (capex) plan to reach the envisaged output of 250 million tonne (MT) by 2020. MCL is tipped to be CIL´s biggest producer, overshooting South Eastern Coalfields Ltd (SECL) and accounting for a fourth of CIL´s estimated production of one billion tonne by 2020. ´MCL has been given a target to produce 250 MT of coal by 2019-20. For realisation of that target, we are going to open some new mines- Garjanbahal and Siarmal in Basundhara area (in Sundargarh district) and Gopalprasad. MCL has an ambitious target of investing Rs.15,000-20,000 crore. Most of the money would be invested on infrastructure creation- on rail network, road network and coal loading systems´, MCL´s chairman and managing director A K Jha said. The MCL website informs that there are 18 ongoing coal projects of 151.33 MT capacity and involving a capital investment of Rs.8315.11 crore.