New Delhi: Coal India is gearing up to invest about Rs 6,000 crore towards capital expenditure in the next fiscal and an equal amount on augmenting other infrastructure, including rail connectivity, it said.
Meanwhile, the company has a target to achieve an output of one billion tonnes by 2019-20. The capex for entire infrastructure in Coal India for 2015-16 is close to Rs 12,000 crore, Coal India CMD Coal India CMD S Bhattacharaya told reporters here.
Coal India said in a filing to BSE, “CIL and its subsidiaries are proposing to invest around Rs 6,000 crore in 2015-16 towards capital expenditure.” Further, an amount of around Rs 6,000 crore has been earmarked by CIL for railway and other infrastructure development for 2015-16, the company said.
He said that annually Rs 6,000 crore would be spent on mining and the remaining Rs 6,000 on rail infrastructure and other related work. CIL also unveiled its roadmap, of strategies to be adopted, to attain the one billion tone coal production by 2019-20.
Bhattacharaya said, “The process of identification of projects to share the balance quantity, to top up the 1 billion tonne mark, is also underway.” With the projected coal demand of the country hovering around 1,200 million tonnes (MTs) by 2019-20, at an envisaged growth rate of 7 percent, CIL is expected to chip in one billion tonnes, of which, 908 million tonnes is the expected contribution from the identified projects, he said.
