Coal India scales up capex to 14834 cr in FY22

20 Apr 2022 , 01:35 AM

Coal India CIL has scaled up its capex to Rs 14834 crore ending FY22 the highest so far Going past the MoU target of Rs Rs14695 crore this represents 101Percentage achievement It was for the second consecutive fiscal that CIL bettered its capex target which is a record of its own The capex increase was up by a sharp Rs1550 crore in FY22 compared to Rs 13284 crore of FY21 registering a near l2oo growth CILs FY21 capex doubled in a year from that of Rs6270 crores of FY20 This means FY22 capex growth came on the back of a strong base The entire capex was met through internal accruals Land and HEMM combined accounted for 40Percentage of the total Capex at Rs 5867 crore Capex under land was Rs 3262 crore during FY22 posting a jump of 17Percentage over previous fiscals Rs2786 crore Acquisition of land is vital for CIL to enhance its production from OC mines Land procured for two projects of MCL – Searmal and Talacher would help the company further widen its mining operations The centralized procurement of HEMM for ECL NCL SECL amounted to the bulk of Rs2605 crore under this head Replacing the old fleet with the modernized equipment to be deployed in OC mines especially in SECL and NCL is essential for output ramp up The other important head of capex spend at Rs 2322 crore was for setting up coal handling plantssilos with a major share taken up NCL SECL and MCL Strengthening of evacuation infrastructure through rail sidings and corridors accounted for Rs 2307 crores of total capex capex growth during all the four quarters of FY22 and even on monthly basis was significantly higher compared to the previous year