The Government today said investments worth $ 250 billion are planned over the next five years in coal, power and renewable energy and it is looking at opening 40-50 new coal mines in 18 months.
“The Power, Coal and Renewable energy sectors have plans to invest nearly USD 250 billion in the next five years…. In the coal sector we are looking at opening nearly 40-50 new mines in the next one and half year,” Coal and Power Minister Piyush Goyal said at a seminar here.
Western Coalfields Ltd, an arm of Coal India Ltd, is alone looking at opening around 12 mines in the next 12 months, he said.
“On the transmission side, we are looking at nearly a hundred thousand crores worth of new lands being bid out in next six months… All of this will lead to massive investment in coal sector,” Goyal said.
He also expressed optimism that a billion tonnes of coal production by Coal India LtdBSE -1.07 % by 2020 would be achieved