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Coal India capex at 37 per cent in Apr-Dec 2021

By IndianMandarins- 06 Jan 2022
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New Delhi (06.01.2022): Coal India’s capital expenditure has grown 37 per cent at Rs 10,717 crore in April- December 2021, as compared to Rs 7,801 crore during the same period last year. This capex spend marks around 86 per cent of the progressive target achievement.
Coal India’s capex target is Rs 17000 crore for FY 22, which is 28 per cent more than the actual capital expenditure of Rs 13284 crore during FY 21.
This capex scale-up comes at a time when the Central government has been urging public sector entities to step up their annual capex. Capex is a key performance area that has a weightage value of 15 per cent in performance evaluation in the Memorandum of Understanding that CIL signs with the Ministry of Coal at the beginning of every financial year. Capital expenditure on land acquisition at Rs 2490 crore, crucial for developing new mines and expansion was 121 per cent of the progressive target by the end of December 2021. The target for the period was fixed at Rs 2057 crore. ENDS  

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