State-owned miner Coal India Limited, CIL will invest over 1.27 lakh crore rupees to increase production to one billion tonne over the next five years. This was disclosed by Coal Minister Piyush Goyal while talking to newsmen in Kolkata today. He said, the money would be spent in technology, equipment and upgradation of the existing facilities. Goyal said, the increase in production will be from the existing mines and also the new ones. Goyal said, CIL would be opening 70 to 100 mines while the state governments would be adding 39 for boosting power production in their states. Another 70 to 80 mines would be opened by the private sector, he added.Speaking on the occasion the West Bengal Chief Minister Miss Mamata Banerjee urged the centre to announce a National policy on iron ore to meet the needs of the States. She appreciated the Coal Sector giant and assured all help for their activities in the State. The Union Minister of State Mr. Babul Supriyo, the Chairman of CIL Mr. Suthirtho Bhattacharjee were also present at the function.