Coal sector holds promise for investment: Sriprakash Jaiswal

NEW DELHI: The government today said the coal sector holds huge promise for the investors as the demand for the fossil fuel is growing consistently.

"While the demand for coal in the growing economy like India is outstripping production, yet we still envisage a reasonable growth rate in coal production in the country," Coal Minister Sriprakash Jaiswal said addressing investors in Singapore.

The other members of the delegation include Coal India Chairman and Managing Director Narsing Rao, Coal Advisor Alok Perti and Joint Secretary in the Coal Ministry A K Bhalla.

The minister also said the total coal production is likely to reach 780 million tonnes (MT) by 2016-17 with rise in production from public sector firms like Coal India and Singareni Colleries Co Ltd among others.

"The total coal production in the country is now reaching about 580 MT and is expected to rise to about 780 MT by 2016-17," he said.