Coal India's capex rises 6.5% to Rs 19,840 crore in FY'24

New Delhi: Coal India Limited (CIL) on Tuesday said its capital expenditure increased by 6.5 percent to Rs 19,840 crore in FY'24.

The company's capital expenditure was Rs 18,619 crore in FY23, Coal India Ltd (CIL) said in a statement.

It accounts for over 80 percent of the domestic coal output.

PSU Watch is now on Whatsapp Channels. Click here to join

"CIL achieved 120 percent target satisfaction over the year's capex target of Rs 16,500 crore. For the fourth fiscal on sequence CIL's capex breached the budgeted target," the PSU said.

Coal India 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.

Evincing a sharp upward swing on land acquisition and associated rehabilitation and resettlement, capex for land was Rs 5,135 crore in the last fiscal, the second highest, posting a jump of 52.5 percent over Rs 3,367 crore in FY'23.

Procurement of heavy earth moving machinery (HEMM) made up the third highest head with Rs 3,078 crore during FY'24.

The remaining capex amounting to Rs 5,557 crore was spread among other heads which include solar projects, joint ventures, washeries, other plant and machinery, mine development activities including safety, environment, exploration and prospecting and office equipment, among others.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)