Coal India plans to buy ₹10,000-cr mining equipment

Mining
Coal India has decided to acquire ₹10,000 crore worth of high capacity mining equipment as it plans to start mining operations more aggressively to match its coal production target of 660 million tons during 2019-20. The move will require raising annual output by 8-9% in the current fiscal for which equipment has to be upgraded in other mines to raise output quickly and efficiently. Chairman Anil Kumar Jha said that the company would be spending ₹2,000 crore a year over the next five years to acquire high-capacity earth-moving and excavating equipment. Decision has already been taken for ₹7,500 crore worth of procurement for which scores of contracts are in the process of being awarded, while tenders have also been floated or are being prepared. This is the first major equipment purchase drive in 3-4 years by the world's largest coal miner that meets more than 80% of the country's requirement. Efforts to upgrade equipment on a large scale had stalled in the past due to rivalry amongst a limited number of manufacturers-suppliers globally. Introduction of a transparent e-procurement process with reverse auction in 2016 has changed the scenario, allowing the management to take decisions without fear of falling foul of overseeing bodies. The company needs high-capacity machines since most of its production comes from open cast mines. These equipment will help raise production quickly by faster removal of overburden (earth and rock layers covering coal seams) and heavy-duty mining.

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