Coal India Limited (CIL) has reported a notable increase in capital expenditure (capex), rising by Rs 7.41 billion to reach Rs 104.92 billion in the eight months ending November 2023-24, marking a 7.6 per cent surge from the corresponding period last year.
The company aims to achieve 80 per cent of the targeted capex of Rs 165 billion for the current fiscal year by the third quarter ending December. A significant portion of the capex, amounting to Rs 32.47 billion, has been allocated to strengthen coal evacuation infrastructure, focusing on railway sidings, corridors, coal handling plants, and road establishment. Land acquisition and rehabilitation constitute a quarter of the capex, while procurement of heavy earth-moving machinery stands at Rs 19.54 billion.
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