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HomeBusinessCoal India’s FY22 capex grows 12% to Rs14,834 crore

Coal India’s FY22 capex grows 12% to Rs14,834 crore


NEW DELHI :

Coal India Ltd raised its capital expenditure by 12% in FY22 to 14,834 crore.

A company statement said that the capex in the last fiscal was the highest ever for the state-run coal mining major. In FY21, the capex was 13,284 crore.

“Going past the MoU target of 14,685 crore this represents 101 per cent achievement. It was for the second consecutive fiscal that CIL bettered its capex target, which is a record of its own,” said the statement.

 The entire capex was met through internal accruals, it said

“CIL’s capex boost was to catalyze the output growth and align it with evacuation outlets. Most of the capex was spread on land, procurement of heavy earth moving machinery, setting up CHP/silos and creation of rail infrastructure for coal transportation,” said a senior official of CIL.

Capex under land was 3,262 crores during 2021-22 posting a jump of 17% over previous fiscal’s 2,786 crores. Acquisition of land is vital for CIL to enhance its production from OC mines. Land procured for two projects of MCL -Searmal and Talacher would help the company further widen its mining operations. 

A total of 2,322 crores was spent for setting up coal handling plants and silos with a major share taken up NCL, SECL and MCL. Strengthening of evacuation infrastructure through rail sidings and corridors accounted for 2,307 crores of total capex. 

Apart from environmental benefit CHP/silo combination ensures faster seamless coal evacuation and quality coal loading. Rail sidings and lines are being dovetailed with CHPs and silos.

Capex growth during all the four quarters of FY22 and even on monthly basis was significantly higher compared to the previous year.



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