Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
The government-owned CIL reported that its FY24 capital expenditures climbed by 6.5% to ₹19,840 crore. According to a statement released by Coal India Ltd (CIL), the company's capital expenditure for FY23 was ₹18,619 crore. It accounts over 80% of the coal produced in the country comes from there.
"CIL met its ₹16,500 crore capex target for the year with 120% target satisfaction. CIL's capital expenditures exceeded the allocated budget for the fourth consecutive fiscal year, according to the PSU.
The purpose of CIL is to have enough infrastructure in place to evacuate any future increases in coal production. Establishing first-mile connectivity projects with roads, rail sidings, rail lines, and coal processing facilities and silos are all included in this.
With land acquisition, related rehabilitation, and resettlement showing a steep uptrend, land capex was ₹5,135 crore in the last fiscal year, the second highest, and up 52.5% from ₹3,367 crore in FY23. During FY24, the third biggest expenditure was ₹3,078 crore for heavy earth moving machinery (HEMM) procurement.
The remaining capex, amounting to ₹5,557 crore, was spread among other heads, which include solar projects, joint ventures, washeries, other plant and machinery, mine development activities, including safety, environment, exploration and prospecting, and office equipment.
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