Kolkata: Continuing the growth trend in its capital expenditure Maharatna PSU Coal India (CIL) has incurred a capital expenditure of Rs 10,717 crore till December of the ongoing financial year clocking a strong 37.4% year-on-year growth. Capex during April- December, 2020, was at Rs 7,801 crore.
A CIL official pointed out that the capex scale-up comes at a time when the Centre has been exhorting the public sector entities to step up their annual expenditure. CIL’s capex during the referred period marked 86.3% of the progressive target achievement.
Capex is a key performance area which has a weightage value of 15% in performance evaluation under a memorandum of understanding (MoU). CIL signs an MoU with the ministry of coal at the beginning of every financial year.
