Coal India Limited commemorates 50th Foundation Day
Coal India Limited (CIL) marked its 50th Foundation Day on November 1. The celebration was graced by Union Minister of Coal and Mines, G. Kishan Reddy, as the chief guest, along with Vikram Dev Dutt, Secretary of the Ministry of Coal, as the guest of honour. This significant event not only celebrated CIL's remarkable contributions to the nation's energy sector over the past five decades but also laid the groundwork for its future initiatives and strategic direction.
On this momentous occasion, Union Minister G Kishan Reddy, launched the Golden Jubilee logo and unveiled the mascot ‘Angara’. The logo symbolizes CIL’s pivotal role as the backbone of India’s energy sector, reflecting the company's commitment to innovation, progress, and sustainability. The mascot embodies the strength and resilience of coal miners, highlighting their courage and dedication. The Mascot is inspired by Royal Bengal Tiger.
During his address, Reddy extended heartfelt congratulations to the officers, staff, and workers of Coal India Limited (CIL) for reaching the milestone of 50 years of operation and stressed that increasing coal production and enhancing supplies to reduce imports should be CIL's foremost priorities. He underscored the importance of miners' welfare and the rehabilitation of communities affected by mine closures. "Contractual workers play a significant role in Coal India’s output, and I applaud the management's decision to implement Performance Linked Incentives for them, effective FY 2023-24," he stated.
He further stated that the launch of commercial coal mining in 2020 ushered in transparency, ease of doing business, and investment opportunities, helping to open the coal sector. Expressing confidence in CIL, he stated that the company has the competency and commitment to compete in the current open market scenario.
Addressing the event, Dutt highlighted that CIL provides coal to Indian consumers at competitive rates compared to imported coal. He added that coal stocks at power plants reached 31.6 MT as on October 28, 2024, as compared to 18.8 MTs of corresponding period of last year with a growth of 68%, largely attributed to the contribution of CIL. Coal Secretary also said, Coal India should recalibrate its processes, operational and cost efficiency in accordance to the changing business dynamics.
Reddy also released the Strategy Report on Coal and Lignite Exploration, inaugurated the Mine Closure Portal, and announced the development of a 50 MW solar power plant at the Nigahi project of Northern Coalfields Limited, involving an investment of Rs 250 crores. This solar initiative is expected to generate 49 million units of electricity. The Minister concluded the ceremony by presenting awards to outstanding performers in both institutional and individual categories, recognizing their significant contributions to CIL’s success.
