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Coal India Ltd on Wednesday said its capital expenditure grew 33 per cent to Rs 7,027 crore in April-September FY23 as compared to the year-ago period.
The company’s capex in the year-ago period stood at Rs 5,300 crore.
The two coal evacuation infrastructure heads – setting up of coal handling plants (CHP)/silos and railways lines – together accounted for 36 per cent or Rs 2,547 crore of the total capex in the period under review, CIL said in a statement.
“Capex push is essential for long-term growth prospects. To align the increasing production with robust transportation logistics, CIL is fast-tracking the development of its coal evacuation system. This would help in handling the seamless movement of coal in future,” a senior executive of the PSU said.
Construction of CHPs/silos under first mile connectivity was the major capex head at Rs 1,489 crore during the six-month period of FY23, as compared to Rs 614 crore a year ago.
This affirms the company’s intention to put in place a strong coal transportation infrastructure to move more quantities of the dry fuel in the days ahead.
Most of the expenditure was incurred by CIL’s three subsidiaries MCL, NCL and SECL.
Coal India accounts for over 80 per cent of domestic coal output.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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