CIL chairman says time has come to enter energy sector

Bhubaneswar: Coal India Limited (CIL) chairman Sutirtha Bhattacharya said time has come to explore viable diversification plans to enter into the renewable energy sector to become more competitive in the market.

"We have to be more competitive in the energy market while opportunities of diversification have to be explored," Bhattacharya said during a visit to the headquarters of Mahanadi Coalfields Limited (MCL), a subsidiary of CIL, at Burla, Sambalpur yesterday.

The CIL chairman said MCL has a capacity and the potential to achieve big targets by optimum capacity utilisation and taking advance actions for environment, forest and other statutory clearances.

The chairman, who inspected mining activities at the Ib Valley Coalfields in Odisha, also chaired a review meeting with the top management officials and area general managers, a release from MCL said.

He also held a special meeting with young Coal India officers at the MCL headquarters and held a discussion on the outlook of energy sector in the country, it said. MCL has been given a target to produce 160 million tonne coal during the 2017-18 fiscal, as against 139 million tonne produced during the year ended March 31, 2017.

Complimenting MCL workers for their contributions in providing energy security to the nation, Bhattacharya said the company has a potential to achieve higher targets, for which optimum capacity utilisation is need of the hour, according to the release.

The chairman emphasised on taking advance actions on environment and forest clearances for mining, it said adding the young officers also shared their ideas on business operations.