Coal India (CIL) is planning to invest about Rs300bn ($6.6bn) in new mining projects, washeries machinery and equipment to increase its capacity over the next five years.

The firm has set the production target of the current fiscal year at 452Mt and plans to increase the production capacity to 556Mt by 2016-17.

CIL has identified 142 projects, including 107 open cast and 35 underground mining schemes, with a capacity of 380.22Mt.

The firm is also in the process of setting up 20 new coal washeries with a combined capacity of 111.1Mt and is upgrading its machinery.