Ministry of Coal records 28.33% YoY growth in Capex achievement

17 Feb 2022 CW Team

The centre has informed that the Ministry of Coal, via its Central Public Sector Enterprises (CPSEs), has recorded a 28.33% year-on-year growth in capital expenditure (Capex) achievement at Rs 12,605.75 crore for the period ending December 2021.

The Ministry of Coal, via its Central Public Sector Enterprises (CPSEs), had recorded a Capex achievement of Rs 9,822.28 crore for the term up to December 2020, as against 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 providing a significant impetus to the Covid-struck economy, as per the coal ministry.

This Capex achievement is additionally 75% of the Ministry of Coal's annual target, as per the statement. Coal India Limited (CIL) is one of the CPSEs under the coal ministry. CIL had previously said that its capital expenditure increased over two-fold to Rs 1,840 crore in the first quarter of 2021-22, as against Rs 844 crore in the year-ago quarter.

In a statement, Coal India said that the capital expenditure increased two-fold in the first quarter of FY22, as it continues to step up investments in evacuation infrastructure, land purchase and acquisition of heavy equipment.

CIL has attained 94% of the progressive target of Rs 1,960 crore, set for the April-June quarter of the continuing fiscal. Highlighting the plan on enhancing evacuation infrastructure like installing rail sidings and corridors, coal handling plants (CHP), silos and haul roads CIL's Capex has increased to Rs 504 crore on this account, the second-highest among all Capex heads.

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