New Delhi: As part of its green initiatives, coal Miniratna South Eastern Coalfields Limited (SECL) will invest Rs 168 crore to plant 26 lakh saplings in Chhattisgarh and Madhya Pradesh, an official statement said.

To carry out the plantation work, the miner recently signed two separate agreements with Chhattisgarh Rajya Van Vikas Nigam (CGRVVN) and Madhya Pradesh Rajya Van Vikas Nigam (MPRVVN), the coal ministry said.

The plantation will be carried out for a period of five years from 2023-24 to 2027-28 with subsequent maintenance period of 4 years for each consecutive year of plantation. SECL will spend Rs 131.52 crore in Chhattisgarh and Rs 38.11 crore in Madhya Pradesh for plantation works, it said on Wednesday.

As per the agreements, the respective municipal bodies of the states will take up the plantation works on the company's acquired /leased/ purchased/ transferred land under the expertise and supervision of experts.

Under the plantation exercise, various fruit-bearing trees, trees of timber value and medicinal/herbal plants like Neem, Amla, Karanj, etc. will be planted.

"In a bid to boost the green cover and conserve and enhance biodiversity, SECL is undertaking extensive plantation in and around its mining areas. In the financial year 2022-23 the company carried out the highest plantation in its history by planting more than 8 lakh saplings in an area of 365 hectares," the Ministry said.

Based in Bilaspur, SECL with 67 blocks, is among the top three coal producing subsidiaries of Coal India Ltd (CIL) under the coal ministry. In FY23, CIL's output was 703.21 MT, of which SECL's contribution was 167 MT.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)