Indian Economy News

Coal India's capex rises 65% to Rs. 3,034 crore (US$ 381.83 million) in June quarter of FY23

  • IBEF
  • July 12, 2022

Coal India’s capital expenditure increased by 64.8% to Rs. 3,034 crore (US$ 381.83 million) in the June quarter of FY23, driven by strong spend in acquiring land and strengthening transport infrastructure in its coalfields under first-mile connectivity projects (FMCs). Coal India's capital expenditure stood at Rs. 1,841 crore (US$ 231.69 million) in the June quarter of FY22.

FMC is an initiative by coal companies to minimise environmental pollution, where coal is being transported through conveyor belt from coal handling plants to silos for loading.

During the quarter under review, capex under FMC projects on the construction of coal handling units, silos, and weighbridges stood at Rs. 577 crore (US$ 72.62 million), which is much higher compared to Rs. 141 crore (US$ 17.74 million) spent in the first quarter of FY22.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.