Coal news and updates

First action plan to modernise Coal India mines likely in Oct

The first action plan for technological development and modernisation of Coal India (CIL) mines is likely to be drawn up by the government by October, a move aimed at boosting the PSU's output.

The state-owned firm has been drawing flak for missing the production targets.

"First action plan for technology development and modernisation of mines of CIL will be drawn up," said a source, adding that the deadline for the same is October.

Consultancy firm KPMG, which was given the task to take up the study for technology development and modernisation of CIL mines, has submitted a draft final report (DFR) on June 30 after studying 35 opencast mines and 36 underground mines, the source said.

The report was discussed in the meeting of Chairman and Managing Directors (CMDs) of CIL and its subsidiaries held last month.

"It was observed at the meeting that DFR needs to be studied in-depth for detailed comments, and it is being examined," the source said. "As soon as the comments are received from subsidiary companies, the same will be conveyed to KPMG for incorporating in the final report," he said.

The final report will be placed for further deliberation at the next meeting scheduled for next month, and subsequently it will be placed for approval of the CIL board in September.

At the behest of Coal Ministry, CIL had engaged KPMG in association with John T Boyd Company, USA to take up the study for technology development and modernisation of mines in CIL in November last year. Following which an expression of interest (EoI) was floated for inviting proposals from firms for technology development and modernisation of mines of CIL.

Coal India - which accounts for over 80 per cent of the domestic coal output - produced 462 million tonnes in the last financial year, missing its target of 482 MT.

Source: PTI