PSU NEWS
MCL lines up Rs 20,000-cr capex to ramp up output
Burla (Odisha).Feb 6,2015.
Mahanadi Coalfields Ltd (MCL) has unveiled a Rs 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 told Business Standard.
Siarmal in Sundargarh district will have a production capacity of 50 mnt per year, making it the second biggest coal mine in Asia. The Garjanbahal coal mine would produce 10 mnt.
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