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Coal mining companies to form R&D fund

Coal ministry is planning to put up a proposal which will help to constitute a R&D fund to develop and support new and environment friendly techonologies. This will immensely help Indian mining industry which is using out dated technology. The proposed R&D fund is to be set up under a coal regulator, which would oversee all aspects of coal mining operations in the country. Once approved, all captive coal miners will also have to contribute atleast 1% of the turnover to the proposed research & development fund. CIL alone could provide over Rs 2250 million to the fund, considering its Rs 45,682-crore turnover in 2008-09. Besides, over 100 captive coal mines have been allocated to the private sector. These could also provide substantial funds for R&D activities.

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