CIL To Invest Rs 15,000 Cr In FY18 For Capex, Other Projects

CIL To Invest Rs 15,000 Cr In FY18 For Capex, Other Projects

The world’s largest coal miner, CIL, is lining up nearly Rs 8,500 crore as capital expenditure and Rs 6,500 crore for various other projects in the ongoing fiscal.

The projects include a supercritical thermal power plant, solar energy and coal gasification.

“The capital expenditure for 2017-18 has been set at Rs 8,500 crore,” an official said.

Further, the official said, the company is planning to pump in Rs 6,500 crore in a host of projects, including a supercritical thermal power plant, solar power, revival of fertiliser plants, coal gasification and coal bed methane (CBM) during 2017-18.

“In light of the Paris Protocol and consequent changes in the world energy scenario, Coal India Ltd (CIL) is looking forward to diversify its operations towards renewable energy like solar power and clean energy sources like coal mine methane, CBM, coal to liquid and underground coal gasification (UCG) following the government’s directives,” the official added.

The overall capital expenditure of Coal India (CIL) during 2016-17 stood at Rs 7,700 crore as against Rs 6,123 crore in the previous year.

“Capital expenditure incurred during 2016-17 is 99.16 per cent of budget estimates as against (102.21 per cent) in 2015 -16,” he added.

Earlier, the government had said the coal major had taken various steps for full utilisation of capex in 2017-18.

CIL, which accounts for over 80 per cent of the domestic coal production, is eyeing an output of 1 billion tonnes by 2020.

In 2017-18, the target of coal output has been pegged at 600 mt with an annualised growth of about 8.3 per cent. Read more

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