Coal India capex jumps 65Percentage YoY in Q1 FY2023

14 Jul 2022 , 01:33 AM

Coal India CIL has achieved 65Percentage growth in capital expenditure in Q1 FY23 over corresponding period of pervious year CILs capex witnessed growth for ninth successive quarter CILs capex jumped to Rs3034 crore during April-June FY22 compared to Rs1841 crore of April-June FY21 resulting in a sizeable Rs 1193 crore volume increase Land acquisition at Rs608 crore accounted for nearly one-fifth of the first quarters total capex basket This represents close to 23 fold increase compared to Rs 268 crore spent under this head during April-June FY21 The expenditure was spread across all the subsidiaries of CIL Capex under FMC projects on construction of coal handling plants silos including weighbridges totaled to Rs 577 crore during the quarter under reference This is a four-fold increase compared to Rs141 crore spent in Q1 of last financial year Rail sidings and laying of rail corridors took up Rs571 crore during Q1 FY23 clocking 57Percentage growth On a like to like comparison the expenditure under this head was Rs 363 crore Both the evacuation logistics projects put together at Rs 1148 crore accounted for more than one-third or 38Percentage of the total capex of Rs 3034 crore of the first quarter Another significant capex head was joint ventures Hindustan Urvarak Rasayan and Talcher Fertilizers which consumed Rs 518 crore HURLs Gorakhpur plant has already started the production whereas Sindri and Barauni plants will become operational during the fiscal