Web Exclusive | September 2013
CIL plans Rs 50 bn investment in FY14
Minister of State for Coal, Pratik PrakashBapu Patil said state-run miner Coal India (CIL) earmarked Rs 50 billion for capital expenditure on its domestic operation during 2013-14.
Also, the monopoly coal producer made an ad-hoc provision of Rs 40 billion for acquisition of assets abroad and development of coal blocks in Mozambique.
The company plans to raise its coal output to 615 mn t per annum by 2016-17. In the current financial year, it plans to produce 482 mn t.
During the entire five-year period ending 2016-17, the firm plans to invest Rs 254 billion on its domestic activities. Of this, about Rs 75 billion has been planned to invest in rail infrastructure projects.
An additional ad-hoc parovision of Rs 350 billion (Rs 250 billion for acquisition of coal assets abroad and Rs 100 billion for development of coal blocks in Mozambique) has been kept during XII Plan (2012-17).