The capital expenditure of the public sector enterprise was Rs 9,751 crore over the previous year.
In the first eight months of the current fiscal year, capital expenditures for the state-owned Coal India Ltd. climbed by 7.6% to Rs 10,492 crore, the company said on Tuesday. According to a BSE report from CIL, the public sector enterprise’s capital expenditure for the same time last year was Rs 9,751 crore. The company released a statement saying, “CIL’s capital expenditure increased by Rs 741 crore in eight months ending November FY 2024 to Rs 10,492 crore.”
More than 80% of the country’s coal production comes from Coal India. “We aim to attain approximately 80% of the targeted capital expenditure of Rs 16,500 crore for the current fiscal year by the end of the third quarter in December,” stated a senior official from the organisation. Due to CIL’s increased emphasis on bolstering the infrastructure for coal evacuation in its mining regions, capital expenditures increased to Rs 3,247 crore until November of the current fiscal year, or 31% of total capital expenditures. “Setting up railway sidings and corridors at Rs 1,842 crore; construction of coal handling plants (CHPs) and silos for mechanised transportation of coal including weighbridges at Rs 1,292 crore and establishing roads amounting to Rs 113 crore, cumulatively, made up Rs 3,247 crore,” it stated.
The cost of purchasing heavy earth moving equipment came in second at Rs 1,954 crore, after the capital expenditures of Rs 2,486 crore on land purchase and associated rehabilitation. Joint ventures such as solar and Hindustan Urvarak Rasayan Ltd. and Talcher Fertilisers Ltd. collectively accounted for Rs 1,040 crore, as did diversification. Prospecting, exploration, and mine development are the remaining capital expenditure heads.
