NCL plans capex of Rs 19 billion in 2022-23

Coal India Limited’s subsidiary, Northern Coalfields Limited (NCL) has announced a planned capital expenditure (capex) of Rs 19 billion for 2022-23.

Most of the capex in the current financial year would be spent on the procurement of heavy earth moving machines (HEMMs), setting up coal handling plants and land acquisition, to give a boost to infrastructure.During 2021-22, NCL scaled up its capex to Rs 17.5 billion- higher by 7 per cent from their set target of Rs 16.4 billion. The company’s coal production and offtake stood at 122.43 million tonnes (mt) and 125.66 mt respectively during 2021-22.