Of the proposed amount, "Rs 25,000 crore has been kept for acquisition and development of coal blocks in other countries like South Africa, Indonesia, Australia, USA, Columbia," Minister of State for Coal Pratik Prakashbapu Patil said in a written reply to Rajya Sabha.
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He said the remaining Rs 10,000 crore has been allotted for exploration and development of two allotted coal blocks in Mozambique during the 12th Five-Year Plan (2012-17) besides creating logistic infrastructure there.
The Minister said that the annual production expected from coal assets abroad would depend upon the specific production potential of each of such coal block or mine.
"The decision regarding use of additional production envisaged and the companies to whom such coal will be sold would depend upon the type/quality of saleable coal available from CIL & mines in Mozambique and other coal assets expected to be acquired in other countries," he added.
Patil said Coal India (CIL) has also proposed for an investment/ capital outlay of Rs 25,400.00 crore for the Twelfth Five Year Plan including Rs 11,385 crore on ongoing projects, Rs 2,491 crore on new projects and Rs 7,039 on non mining projects.
The coal major, which accounts for over 80 percent of the domestic production, has already issued a notice on February 27 inviting proposals from investment bankers, owners/ representatives for acquisition of coal assets abroad.
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