Coal India’s April-December capex up 37% at Rs 10,717 cr

Coal India Limited (CIL NSE 0.63 %) has incurred a capex of Rs 10,717 crore till December of the ongoing financial year clocking a 37.4% year-on-year growth. Capex during April-December’20 was Rs 7,801 crore.

The capex scale up comes at a time when the Centre has been exhorting the public sector entities to step up their annual capex, a senior company executive said.

CIL’s capex spend during the referred period marks 86.3% of the target achievement.

Capex is a key performance area which has a weightage value of 15% in performance evaluation under Memorandum of Understanding (MoU). CIL signs MoU with the Ministry of Coal at the beginning of every financial year.