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Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India, is eyeing a topline of Rs 40,000 crore by FY30, backed by increased volume and diversification.

The miner plans to boost its production capacity from 41 million tonnes per year to over 100 million tonnes, with a capital expenditure of Rs 3,000 crore by FY30, officials said.

“In 2023-24, we produced 41.1 million tonnes of raw coal, and in the current fiscal year, the target is to produce 45 million tonnes,” Samiran Dutta, Chairman and Managing Director of BCCL, said on Sunday. “With our expansion plans, we aim to reach 100 million tonnes by 2029-30.”

Dutta noted that BCCL produced approximately 1.5 million tonnes of washed coal in FY24 and plans to increase this to 2.5 million tonnes in the coming financial year. This increase in production is expected to save $562 million in foreign exchange through import substitution, he added.

To accelerate its asset monetisation efforts, BCCL is inviting bids for the development of four coal washeries with a combined capacity of around 8 million tonnes. The goal is to attract steel sector participation to expedite the production of washed coking coal in the country, he said.

Dutta mentioned positive responses for the Dugda washery project and expected to generate Rs 100 crore in lease rentals over the next 25 years for the 350-acre land it will offer in the bidding process.

BCCL is also diversifying into coal bed methane (CBM) and solar power. Test drilling for the Jharia CBM Block-1 is set to begin by September, following the receipt of all necessary clearances.

The CBM project, developed by Prabha Energy, will yield a 10% revenue share for BCCL, he said. Additionally, BCCL on Sunday paid its first-ever dividend of Rs 44.43 crore to its parent company.

This milestone follows BCCL’s achievement of clearing its accumulated losses and reporting a net profit of Rs 1,564 crore for the financial year 2023-24, with a turnover of Rs 13,216 crore.