Kolkata, Nov 22 (IANS): Expressing dissatisfaction over the slow infrastructural growth of Coal India Limited (CIL), its chairman and managing director N.C. Jha Tuesday said getting environmental clearance for projects was an issue.
"Our aim was to get our washeries constructed by the 11th Five Year Plan and we went for the best of the technology available. The issue is environmental clearance, which usually requires a long time to obtain," Jha said on the sidelines of a programme.
"Our wish to construct the washeries this year had not materialised. We are unhappy but we have to live with the system," he added.
Jha said the clearance procedure for the washeries is under process and their construction will be completed within two and half years.
"We have got the environmental clearance for one washery, for seven it is under process, and for the rest we have initiated the process," he said.
"The tender inviting process for another 11 washeries has also begun. Within two-and- half years from now, all of them will be completed," he added.
Stating that CIL is expected to accrue over Rs.60,000 crore in cash reserves by the end of the current fiscal, Jha said he would ideally want 3/4th of the money be used to fund its expansion projects.
On the supply of coal to power companies, he said: The situation has vastly improved. Of our total supply of 1.5 million tonnes per day, over 80 percent goes to them. The coal crunch they are facing is because of their depleted coal reserve due to various reasons."
He said the company has notified new power plants that the domestic supply of coal to them would only 50 percent and the rest would have to be imported. If the companies want, CIL can import the requisite amount of coal for them, he added.
The company is also in the process of identifying partners for a 50:50 joint venture for its proposed power plant in Orissa.
Mahanadi Coalfields Ltd (MCL), an arm of CIL, plans to set up the 1,600-MW power plant in Ib valley in Jharsuguda district in Orissa with an investment of Rs.9,000 crore.