State-owned CIL today said that there was an urgent need to revisit its one billion tonnes output programme following changes in the environmental paradigm and coal demand.
The government had earlier set a target of 1 billion tonnes of coal output by FY2019-20 for Coal India (CIL).
"Consequent upon the outcome of Paris Protocol on climate change and changes in the environmental paradigm and coal demand, there was an urgent need of revisiting the 1 billion tonnes programme," CIL said in its Annual Report 2017-18.
The world's largest miner said the coal ministry was now in the process of finalising the Vision 2030 document for coal sector in which projection for likely demand of coal in the country was being assessed under different scenarios considering the views of power ministry and scenario emerged due to Paris protocol among others, the report said.
The document is likely to be finalised shortly, it said.
"In view of above, road map for coal production beyond 2018-19 along with other related issues would be relooked on the basis of that demand forecast," it said.
In the light of Paris Protocol and consequent upon changes in world energy sector scenario, CIL is looking forward to diversify its operations towards renewable energy like solar power and clean energy sources like CMM and CBM, the report added.
"Following to that mission, Ministry of Coal (MoC)/CIL is in the process of finalising 'Vision Document 2030' to decide on future course of operation for sustainable entity in the nation's energy sector," it said.
The PSU has lined up Rs 9,500 crore as capital expenditure for 2018-19, it said.
CIL has planned to invest substantial amount in various other projects viz. ultra mega Power Project (UMPP), solar power, revival of fertiliser plants, acquiring coking coal assets in Australia and Canada, coal gasification, CBM etc. during 2018-19," it said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)