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Coal India June quarter capex rises 16.6% to ₹3,399 crore
The miner spent ₹804 crore on land acquisition and rehabilitation and ₹754 crore on coal evacuation infrastructure, helping it clear its quarterly capex target at 101.5%.
Coal India said its capital expenditure reached ₹3,399 crore in the June quarter, up 16.6% year on year from ₹2,914 crore in the same period last fiscal year, according to a regulatory filing cited by LiveMint Markets.
The company also surpassed its quarterly capex target of ₹3,349 crore, completing 101.5% of the planned spend. June quarter spending accounted for 20.6% of Coal India’s total capital expenditure target of ₹16,500 crore for the current financial year.
LiveMint Markets reports that land acquisition and rehabilitation and resettlement were the largest capex components at ₹804 crore, with management saying timely land acquisition is critical because mining projects cannot start or expand without the required land.
Coal India further invested ₹754 crore in railway sidings and rail corridors to strengthen coal evacuation, and ₹195 crore on coal handling plants, silos, weighbridges and roads for a total of ₹949 crore on evacuation infrastructure during the quarter. The company also reported capex of ₹819 crore under its Plant and Machinery segment, and spent ₹278 crore on solar projects as part of its clean energy diversification.