NCL to invest Rs 4,000 cr for increasing coal productionadmin
Northern Coalfields Ltd (NCL), a subsidiary of Coal India Ltd, will invest Rs 4,000 crore to augument its production capacity to 70 million tonne over the next five years and plans foray into power generation. “NCL will open two new mines and take up expansion work in six other existing mines to increase its coal production to 70 mt from the existing 51 mt. The company will pump in Rs 4,000 crore,” Chairman and Managing Director of NCL V K Singh said. He said that NCL was planning to diversify into the power generation business preferably through the joint venture route for which it has initiated preliminary talks with Neyveli Lignite Corporation.