Country’s national miner Coal India Limited (CIL) has decided to scale up its capital expenditure by an additional Rs 3,000 crore.
This is the first time in its history that the mining giant has revised its capex upwards. The capex for this fiscal would stand at Rs 13,000 crore.
The company said capex revision is in line with the Centre’s directive to public sector utilities (PSUs) to increase their capital expenditure in order to “stimulate economic activity.”
CIL’s revised capex during the current financial year would make it one of the top spenders among the Indian PSUs, said a statement by the company.
