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Asked whether one billion tonne coal production target by 2020 would be revised in view of the muted demand and lower price realisation, Bhattacharya replied in the negative.
The technical upgradation includes fitting all trucks meant for carrying coal with GPS tracking devices within a month to check plunder of the dry-fuel.
Several senior executives at foreign investment banks in Mumbai said 'green' concerns had clouded Coal India since its listing five years ago, and few were keen to take on a deal that could tarnish their public image.
CIL requires 20,000 acres in next five years to acheive its target of 908 million tonnes. The cost of land acquisition would depend on the proposed Land Bill which seeks higher compensation.
Shareholders nod will be sought in annual general meeting of the coal behemoth scheduled for September 23 in Kolkata, the company said in a filing to the BSE.
Western Coalfields' (WCL) Penganga open cast project will benefit the people in nearby areas as ample coal will be available to Maharashtra State Power Generation Company Limited (MahaGenco) to provide electricity at cheaper rates, Chief Minister Devendra Fadnavis has said.
Nearly 5 lakh coal workers across the country joined a five-day strike on Tuesday. The strike is also likely to impact the fuel supply to thermal power plants.
The strike can affect coal production of up to 1.5 million tonnes a day and may also hit supplies to power plants which are already grappling with fuel shortages.
Career bureaucrat Sutirtha Bhattacharya, chairman of India's second-largest coal producer Singareni Collieries, will take over as the head of its bigger rival ahead of a key meeting at Coal India's headquarters on December 30, the officials said.
Averting the strike called by Coal India workers on November 24 will be one of the challenges facing the new chairman.
