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New UserCoal India’s capex rises 6.5% in FY24 to Rs 19,840 crore
17 Apr 2024
This is the fourth consecutive fiscal year that Coal
India’s capex has breached the budgeted target.
The company spent Rs 6,070 crore, 30.6% of
its entire capex, on strengthening coal transportation and handling infrastructure
in its mining areas. (Image source: PTI)
Coal India’s (CIL’s)
capital expenditure for financial year 2023-24 increased by 6.5% to Rs 19,840
crore compared with FY23 when the capex stood at Rs 18,619 crore, the company
said on Tuesday.
This is the fourth
consecutive fiscal year that Coal India’s
capex has breached the budgeted target. CIL achieved 120% target satisfaction
over the year’s capex target of Rs 16,500 crore, it said.
The company spent Rs 6,070
crore, 30.6% of its entire capex, on strengthening coal transportation and
handling infrastructure in its mining areas. “CIL is aiming to have
adequate infra in place to evacuate increased quantities of coal produced in
future. This includes setting up first mile connectivity projects with coal
handling plants and silos; rail sidings, rail lines and roads,” the company
said in a statement. Engineering to spend Rs 220 crore to ramp up fab component
unit