CAPEX of CIL surpasses the provisioned target of Rs.844 crores, 720 crores during the first quarter of the current financial year.
New Delhi (Natural Energy News): The world's largest coal mining company CIL said on Thursday that it has invested Rs 10,000 crore as capital expenditure (Capex) for the current financial year.
Coal India (CIL) said in a statement, "Subsidiary-wise joint CAPEX plan and CIL's capital budget for FY 2020-21 is estimated at Rs 10,000 crore."
Although part of the plant and machinery includes the purchase of heavy earthmoving machinery (HEMM), which includes a major stake of over Rs 3,700 crore for the year, the expenditure on land acquisition and rehabilitation and rehabilitation is above Rs 1,900 crore.
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These two heads make up about 57 percent of the overall CAPEX for 2020-21. The remaining 43 percent is made up of expenditure on coal extraction, quarry development, wagon purchases and transportation of others, including solar initiatives, research and development and exploration.
CAPEX of CIL, 844 crores during the first quarter of the current financial year. 720 crores exceeding the estimated target of Rs.
Even in the midst of a coronavirus-induced recession, CAPEX spending in the first quarter of the current fiscal year was 4.2 percent higher than the same quarter in the previous fiscal year.
CIL spent Rs 810 crore on its capital expenditure in the April-June period of the last financial year.
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Out of the Rs, 844 crore CAPEX, other plants and machinery worth Rs 393 crore were the major components out of HEMM.
This was then spent on coal extraction transport infrastructure including coal handling plants, silos, crushers, railway sidings and corridors worth Rs 241 crore.
Mine development and exploration and prospecting are worth Rs.650 crores and 6 crores respectively.
The remaining amount was made by other chiefs.
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The Capex MoU is a key scoring performance parameter that CIL signs every year with its administrative ministry, a senior executive of the company said.
"CAPEX's use of the mining monolith boosted its three subsidiaries South Eastern Coalfields Limited (SECL), Northern Coalfields Limited (NCL) and Central Coalfields Limited (CCL), which accounted for 81 percent of capital expenditure, ending June, 20 quarter, ”it said.
SECL topped the list with Rs 435 crore, followed by NCL with Rs 149 crore and CCL with Rs 102 crore.
The Memorandum of Understanding of CIL with the Government is an agreement and agreement between the management of the Central and Central Public Sector Enterprises to evaluate the performance of the CPSE at the end of the year.
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