Coal India Ltd (CIL), which produces 84% of the country's total output of the mineral, has planned to invest Rs 8,500 crore ($1.32 billion) as capital expenditure in 2017-18, showed the company's latest annual report.

"The capital expenditure for the year 2017-18 has been set at (Rs) 8,500 crore," the miner said in its annual report.

According to the report, the miner further has planned to invest Rs 6,500 crore in various projects such as Super Critical Thermal Power Plant (STPP), solar power, revival of fertiliser plants, coal gasification, acquisition of coal blocks in India and abroad, and CBM (coal bed methane) etc. during the current fiscal.

In 2017-18, the target of coal production has been pegged at 600 million tonnes with an annual growth of about 8.3% over the achievement of last year. In 2018-19, the expected coal production projection is 773.7 million tonnes with a year on year growth of about 28.95%.

CIL has envisaged a coal production of 908.1 million tonnes in 2019- 20 with a CAGR (compound annual growth rate) of 12.98% regarding 2014-15.

The miner in view of Paris Protocol and consequent changes in world energy scenario, according to the report, is looking forward to diversify its operations towards renewable energy like solar power and clean energy sources like coal mine methane, coal bed methane, coal to liquid and underground coal gasification etc. following the central government's directives.

"Following that mission, MoC/CIL (Ministry of Coal/ Coal India Ltd) is in the process of formulating Vision Document 2030 to decide future course of operation for sustainable entity in the nation's energy sector," added the report.

(Writing by Becky Du  Editing by Harry Huo)
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