CIL’s Q1 capex rises 65% to Rs 3,034 crore

Coal India ( CIL) has achieved capital expenditure of Rs 3,034 crore from April-June of the current fiscal, up 65% over the comparable quarter last year. The PSU-miner has been maintaining robust capex over the last many quarters.

“The capex increase came on the back of strong spending in acquiring land and strengthening transport infrastructure in our coalfields under first-mile connectivity projects. These two vital areas help CIL in expanding its mining operations for accelerated production and pairing it with seamless transportation of coal,” a senior CIL official said.

Land acquisition at Rs 608 crore accounted for nearly one-fifth of the first quarter’s total capex basket. This represents a close 2.3-fold increase on year. The expenditure was spread across all the subsidiaries of CIL, the official informed.