Coal India targets 8% growth in output, lines up Rs 10,000 cr capex in FY20
Coal India targets more than 8 per cent growth in production at 660 million tonnes in 2019-20 compared to 607 million tonnes in the last fiscal and plans a capital expenditure of Rs 10,000 crore in the current fiscal, according to sources.
The target for revenue from operations (net) has been fixed at Rs 1 trillion for FY2019-20, they said.
The targets were fixed during a meeting between the Coal Ministry and Coal India (CIL) held recently.
“CIL had signed the mandatory memorandum of understanding … with Ministry of Coal for its key performance areas for the fiscal 2019-20. Thus the coal production and offtake target for the year 2019-20 is 660 MT …. CAPEX target has been set at Rs 10,000 crore,” sources said.
