India’s Coal Ministry CPSEs clock 28.33% growth in capital expenditure

Last week the Indian government said the Ministry of Coal, through its Central Public Sector Enterprises (CPSEs), has registered a 28.33 per cent year-on-year growth in capex achievement at Rs 12,605.75 crore for the period ending December, 2021.

Coal India is one of the CPSEs under the coal ministry. The Ministry of Coal, through its Central Public Sector Enterprises (CPSEs), had registered a capex achievement of Rs 9,822.28 crore for the period up to December, 2020,

“As compared to the last year’s achievement of Rs 9,822.28 crore for the period up to December, 2020, Coal Ministry CPSEs have done capex of Rs 12,605.75 crore, thereby giving a major impetus to the COVID-struck economy,” the coal ministry said in a statement.  This capex achievement is also 75 per cent of the Ministry of Coal’s annual target, the statement added.

CIL had earlier said that its capital expenditure jumped more than two-fold to Rs 1,840 crore in the first quarter of 2021-22, compared to Rs 844 crore in the year-ago quarter. Coal India in a statement said the capital expenditure rose two-fold in the first quarter of FY22 as it continues to step up investments in evacuation infrastructure, land acquisition and procurement of heavy equipment.

CIL has achieved 94 per cent of the progressive target of Rs 1,960 crore, set for April-June quarter of the ongoing fiscal. Coal India is intent on strengthening evacuation infrastructure like setting up rail sidings and corridors, coal handling plants, (CHP), silos and haul roads. CIL’s capex has risen to Rs 504 crore on this account, the second highest among all capex heads.

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