Coal India CAPEX in Q1 of 2021-22 Surges
As Coal India steps up investment, its growth in capital expenditure during the first quarter of the fiscal more than doubled at 118% to INR 1,840 crore from INR 844 crore during the same quarter last fiscal . CIL in the current quarter has made investments in creating a better evacuation infrastructure, land acquisition for expansion of mines and procuring heavy equipment for enhancing production, with a target to be a net zero company by 2024.
CIL’s growth in capex during the first quarter has mainly happened on account of infrastructure spending like setting up rail sidings and corridors, coal handling plants, silos and haul roads, which has given a quantum leap to spending over the first quarter of FY21.
CIL has pegged its capex target at INR 17,000 crore for FY22, a 28% increase over the actual capital expenditure of INR 13,284 during in FY21.