Coal India to spend Rs 7,765 crore on capex in this fiscal
Further, the company has planned to invest Rs 5,069 crore in various projects
New Delhi: Coal India will invest around Rs 7,765 crore towards capital expenditure in the ongoing fiscal and Rs 5,069 crore in various projects, including railway infrastructure, super critical thermal power plant and solar power.
"The capital expenditure for the year 2016-17 has been set at Rs 7,765 crore," Coal India (CIL) said in its latest report.
In addition, an ad-hoc provision of Rs 2 crore has been kept for its overseas activities.
"Further, the company has planned to invest Rs 5,069 crore in various projects viz railway infrastructure, super critical thermal power plant, solar power, revival of fertiliser plants, procurement of railway wagons, CBM (CoalBed Methane) during 2016-17," the report said.
CIL has envisaged a coal production of 908.10 million tonnes (MT) in 2019-20 with a CAGR of 12.98 per cent with respect to 2014-15.
In 2016-17, which is also the terminal year of 12th five-year plan, the target of coal production has been pegged at 598.61 MT with an annualised growth of about 11 percent.
In next fiscal, the envisaged coal production projection is to the tune of 660.7 MT with a growth of about 10.5 percent.
CIL accounts for over 80 percent of the domestic coal production. The PSU achieved a production at 536 MT in 2015-16 and missed its output target of 550 MT.
As on April-end, CIL had 413 mines, of which 207 are underground, 176 opencast and 30 mixed mines.
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Coal India has projected a drop in output from the existing mines over the next five years even as it prepares to meet the government target of about 1 billion tonne coal production by March 2020.
CIL produced 295.40 million tonnes during the same period last year