India should become exporter of coal, says minister Piyush Goyal

Goyal said this after meeting global investors where he assured them that the government will address their concerns.

hidden November 11, 2014 16:33:18 IST
India should become exporter of coal, says minister Piyush Goyal

New Delhi: Aiming to make India self-sufficient in coal, Power and Coal Minister Piyush Goyal today said the target of doubling domestic production from thecurrent 490 million tonnes level was "possible".

He even went a step further and said the country should make efforts to become an exporter of coal by drawing up a clear roadmap for the same.

"We have plans to ramp up coal production to a billion tonnes from its current level of 490 million tonnes (MT). It is clearly doable, it is not a fanciful target, they have 200 mines which have not yet opened up, technological innovations can make it possible," Goyal said.

Out of the total domestic coal production of 565 MT, Coal India produces 490 MT. This is targeted to be doubled to one billion tonnes annually by 2019. The state-run firm will invest Rs 5,000 crore to buy 250 rakes for transporting coal.

The Minister said India should not remain an importer of thermal coal for power plants but on the contrary should be in a position to supply to the world and increase its own power generation capacity significantly.

Goyal said this after meeting global investors where he assured them that the government will address their concerns.

"The investors have had serious concerns in the last 4-5 years like stalled projects, rupee depreciation and uncertain business environment," he said.

However, with the new government in place this has started to change. They are looking at India afresh and going forward the investments in the power sector are going to be quite large and investors both from within India and abroad can see good, robust policy which we are reassuring to all the investors, he added.

PTI

Updated Date:

Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply

also read

Coal pilferage case: CBI reaches TMC MP Abhishek Banerjee's residence to question his wife Rujira
India

Coal pilferage case: CBI reaches TMC MP Abhishek Banerjee's residence to question his wife Rujira

West Bengal chief minister Mamata Banerjee visited her nephew Abhishek's residence in Kolkata minutes before the arrival of the CBI team

Coal pilferage scam: CBI questions TMC MP Abhishek Banerjee's sister-in-law Menaka Gambhir
India

Coal pilferage scam: CBI questions TMC MP Abhishek Banerjee's sister-in-law Menaka Gambhir

The CBI in November 2020 had filed an FIR against the alleged kingpin of the pilferage racket Manjhi alias Lala, Eastern Coalfield Ltd General Managers Amit Kumar Dhar and Jayesh Chandra Rai, along with others

Mumbai air polluted largely by coal-powered industry, better tech and infrastructure needed: CSE report
India

Mumbai air polluted largely by coal-powered industry, better tech and infrastructure needed: CSE report

Some 1,400 medium- and small-scale enterprises in four industrial areas alone made up 70 percent of polluting industries in the MMR.