New Delhi, May 3 (IANS): Coal ministry aims to produce 1,012 million tonnes of dry fuel in the current financial year.

According to the action plan prepared by the ministry, 25 new reserves for commercial mining would be allocated during the current fiscal.

Capacity expansion target for 2023-24 is Rs 21,030 crore, while the overall projected target of assets monetisation plan is Rs 50,118.61 crore.

During 2022-23, the ministry signed agreements for a total of 23 coal mines having cumulative peak rated capacity (PRC) of 33.224 million tonnes per annum.

These mines are expected to generate an annual revenue of Rs 4,700.80 crore calculated at PRC.

These mines are expected to provide both direct and indirect employment to 44,906 people.

The ministry has also formulated a coking coal strategy to enhance coking coal availability in the country to reduce imports.

In consultation with the railway ministry, the coal ministry is closely monitoring the new railway line projects that are critical for coal evacuation, and is undertaking mapping of coal sector on national monetisation pipeline.