Ranchi: PM Prasad, the former chairman-cum-managing director of Central Coalfield Limited (CCL) based in Ranchi, has been appointed as the chairman of Coal India Limited (CIL), the parent public sector unit of CCL. He expressed his priority of steering the coal major towards producing one billion tonnes of coal by the 2025-26 financial year. Prasad will assume his new role at the CIL headquarters in Kolkata on Saturday.

In an interview with TOI, Prasad stated that CIL produced 700 million tonnes (MT) of coal in the previous financial year and aims to reach a target of 780 million tonnes this year. India still imports a significant amount of coal annually, ranging from 160 million tonnes to 220 million tonnes. By increasing production, CIL aims to reduce the country's dependence on imported coal.

During his tenure as CCL CMD for nearly three years, Prasad also expressed his intention to drive the PSU towards generating 3,000 MW of solar power within the next two years. Additionally, he emphasized the importance of commissioning two thermal power plants in Odisha and Chhattisgarh.

CIL is planning to establish two captive thermal power units of its own. One plant with a capacity of 1,600 MW is proposed for the Mahanadi Basin in Odisha, while the other, in collaboration with the Chhattisgarh state government, will have a capacity of 500 MW in Chhattisgarh.

Apart from the thermal power plants, CIL aims to increase the collective production capacities of its subsidiary units in underground coal mining to 100 MT in the coming years. Currently, the functional underground coal mines of CIL collectively produce approximately 25 MT of coal annually.

It is noteworthy that the Hemant Soren government has voiced its concerns in recent years, demanding that CIL fulfill its outstanding compensation amount of over Rs 8,000 crore for the 20,000 acres of land acquired from the state government over time.