On May 6, the Coal Ministry will host a meeting for investors

Administrator_India | May 5, 2022 | 0 | Business

On Friday, the coal ministry will host a high-level Investors’ Meeting to encourage private-sector investment.

Coal Minister Pralhad Joshi will kick off the event, which will take place in Mumbai.

“Joshi will hold a high-level Investors’ Meet in Mumbai on May 6, 2022, focusing on the topics of ‘Launching of closed/discontinued coal mines of Coal India Ltd (CIL) on revenue sharing method’ and ‘Coal Gasification; Way Forward,'” the ministry said in a statement.

The Investors’ Meet, which is being organized by the Ministry of Coal in collaboration with CIL and FICCI, will be addressed by Minister of State for Coal, Mines, and Railways Raosaheb Patil Danve.

The day-long meeting will be attended by Coal Secretary Anil Kumar Jain, as well as other senior ministry officials, CIL officials, and industry experts.

During the forenoon session, presentations and discussions will be presented to highlight the prospects in the reopening of closed/discontinued coal mines, as well as components of the revenue sharing model.

The afternoon session will be highlighted by the ministers’ addresses on the proper implementation of coal gasification projects in India.

Joshi will preside over the session to better understand the private sector’s expectations of joining the government’s efforts to achieve 100 million tonnes (MT) of coal gasification by 2030.

India has a thermal coal reserve of 307 billion tonnes, and around 80% of dry coal produced is used in thermal power plants.

Amid environmental concerns, the government has prepared a Mission document for 100 MT of coal gasification by 2030, as it is considered a cleaner alternative to coal burning.

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