Miniratna NCL to invest 7000 cr for expansion, CSR activities

 

Miniratna company, Northern Coalfields Limited (NCL) based at the energy capital of India, Singrauli, has planned to invest Rs 7,000 crores in the next four years to ramp up its coal production and other social infrastructure by capacity building and expansion of projects. A sum of Rs 1,250 crore of capital expenditure will be done during this fiscal only.

The NCL has planned to increase its production upto 130 MT in FY 23-24 in order to contribute towards 1 Billion Tonne coal production target of Coal India Limited. NCL operations involve 10 open cast coal mines with heavy mechanisation. Investment of about Rs 3000 crore is planned for procurement of Heavy Earthmoving Machines (HEMMs) and another Rs 3000 crore for development of additional coal evacuation related infrastructure.

 

Construction of coal handling plants with rapid loading system at its Jayant, Dudhichua, Nigahi and Bina coal projects, development of railway sidings, and mechanisation of wharf walls is part of coal evacuation infrastructure which will curb the transportation of coal by road and improving the environmental condition. Huge employment will also be generated with infrastructure development.

 

In another frontier of diversification towards renewal energy, NCL is setting up 50 Megawatt solar power plant with an investment of Rs 200 crore near Nigahi Project. Social Infrastructure development includes the expansion of hospitals, new community halls, and other welfare amenities for its employees and the local population. NCL is a flagship subsidiary of Coal India Limited which produced 108.05 MT in FY 2019-20. It is significant to add that amid COVID-19 and lockdown, the company has sustained positive growth and moving on the track.