New Delhi: State-owned Coal India Limited (CIL) on Thursday said it has entered into a pact with Indian Port Rail & Ropeway Corporation Ltd to develop rail infrastructure of the coal behemoth and its arms.
The non-binding memorandum of understanding (MoU) was signed between both companies in Kolkata.
"Coal India Ltd (CIL) and Indian Port Rail & Ropeway Corporation Limited have executed a non-binding Memorandum of Understanding (MoU) on 05.06.2025 at Kolkata with an intent of development of Rail Infrastructure of CIL and its subsidiaries," the maharatna firm said in a BSE filing.
Indian Port Rail & Ropeway Corporation Ltd is a Joint Venture Company between 11 major ports under the Ministry of Ports, Shipping and Waterways, holding 90 per cent of equity capital and Rail Vikas Nigam Limited (RVNL) under the Ministry of Railways, holding 10 per cent of equity capital.
The JV was incorporated to provide efficient rail evacuation systems to major ports and to enhance their capacity and throughput.
CIL accounts for over 80 per cent of domestic coal production. In FY25, CIL produced 781.1 million tonnes (MT) of coal, nearly 7 per cent less than the company's annual target of 838 MT.
Coal India Ltd is targeting a production of 875 MT and an offtake of 900 MT in FY26.
(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.)