BuzzLuv !

Coal India’s capital expenditure up 6.5% to Rs 19,840 crore in FY24 | Company News


State-owned CIL on Tuesday said its capital expenditure increased by 6.5 per cent to Rs 19,840 crore in FY24.

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 per cent of the domestic coal output.

“CIL achieved 120 per cent 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.

CIL 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 per cent over Rs 3,367 crore in FY23.

Procurement of heavy earth moving machinery (HEMM) made up the third highest head with Rs 3,078 crore during FY24.

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.

(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.)

First Published: Apr 16 2024 | 3:40 PM IST


Source link

Leave a Comment

Discover more from BuzzLuv !

Subscribe now to keep reading and get access to the full archive.

Continue reading