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Coal India to ramp up investment

Coal India to ramp up investment

Coal India (CIL) is gearing up for around Rs 42,000-crore investment in the next few years. Many of CIL's projects, st­uck under environment no­rms, started getting clearances. The investment plan also invo­lves foreign acquisitions, the clearances for which are likely to come in the next few weeks.

The Ministry of Environment and Forests (MoEF) has already lifted the pollution index-related ban on three major Coal India projects. These are for the Talcher mines and Ib Valley mines in Orissa and Singrauli in Madhya Pradesh. According to initial estimates, Coal India will require about Rs 7,000 crore for setting up about 40 washeries. Coal India has earmarked about Rs 6,000 crore for foreign acqui­sitions and about Rs 29,000 for expansion and new mining projects.

Meanwhile, CIL attempt to reopen 18 abandoned mines and start new underground mi­nes through partnerships flop­ped as none showed interest. But CIL is working on a re­vised limited tender document with softer conditions, and if that fails too, global tenders would be floated.

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