Tag: Coal India
- 13 Sep
Coal India Shares Rise on Plans to Invest in FMC Projects
Coal India shares rose on plans to invest in FMC projects. The company plans to invest nearly Rs 24,750 crore in 61 First Mile Connectivity (FMC) projects over the next couple of years. The FMC projects involve coal transportation in mechanized piped conveyors from the production point to coal handling plants/silos with a rapid loading system where coal is loaded directly into rail wagons. The projects will have a combined capacity of 763.5 million tonnes per annum (MTPA) on completion. The investment in FMC projects is part of Coal India's efforts to boost its production and transportation capacity. The company has set a target of producing 1 billion tonnes of coal by 2023-24.