ANGUL: Coal India Limited (CIL) chairman B Sairam announced on Friday that the government has decided to offload a 25 percent stake in Mahanadi Coalfields Limited (MCL), following the disinvestment strategies implemented in Bharat Coking Coal Limited (BCCL) and Central Mine Planning and Design Institute (CMPDI).
During a one-day visit to the Talcher coalfields, Sairam addressed the media after inspecting the mines, stating that the disinvestment aims to harness the company’s significant potential for business expansion. “MCL coal is widely accepted among all categories of consumers,” he noted.
Sairam also mentioned that in addition to Talcher, Jharsuguda, Korba, and Singrauli are key coalfields in the country, contributing a substantial portion to India’s coal production. He projected that CIL is expected to produce approximately 781 million tonnes of coal in the current financial year, although dispatches may not meet the targeted goals.
