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Coal India arm BCCL, which made a turnaround following a revival package from the government, plans to increase output by 15.3 per cent to 36 million tonnes (MT) in the next three years with a capex of Rs 2,100 crore on various projects.
Bharat Coking Coal Ltd (BCCL), a Dhanbad-based Coal India subsidiary, had achieved its highest ever production of 31.21 MT in 2012-13.
"We plan to take our production to 36 MT by 2016-17 with a capex of Rs 2,100 crore on new projects," BCCL CMD Tapas Kumar Lahiry told PTI.
He said the company was committed to implementing the strategic plan, approved in 2008, to achieve a growth of 7-10 per cent per annum and reach a production capacity of 36 MT by 2017.
"BCCL plans to incur Rs 2,100 crore on various capex projects," the CMD said.
The company plans to modernise underground mines taken up through Mine Developer and Operators (MDO) to enhance underground production, he said.
The process is also on for developing high capacity underground mines with global technology, Lahiry added.
BCCL is the only company with substantial resources of coking coal in the country and accounts for almost 50 per cent of the total prime coking coal requirement of the integrated steel sector. It operates 66 coal mines and runs six coking coal washeries and two non-coking coal washeries.
Lahiry said the company's plans include setting up of six new washeries with a capacity to wash 18.6 MT coal per annum.
The government had infused funds worth over Rs 4,300 crore to revive the then sick company in 2008.
After marking its turnaround, the company posted profits for three years in a row. It clocked net profit of Rs 1,093 crore in 2010-11, followed by Rs 822 crore in 2011-12 and Rs 1,498 crore in 2012-13.