Coal India allocates funds for infrastructure and railway networking
Advertisement
In its annual report this year, India’s largest fuel producer Coal India has said that it might spend Rs 10,600 crore this fiscal to raise its production capacity and ramp-up the infrastructure. As per an Economic Times report, the company had also provisioned Rs 500 crore for its Mozambique project, though the funds, reportedly, remained unspent.
Coal India , in 2014-15 had spent Rs 5,173 crore on projects against a targeted investment of Rs 5,225 crore.
The firm, however, has allocated Rs 5,990 crore this year to ramp-up capacity and taking on new projects. The initiative will help the company achieve a production target of 1 billion tonne by 2020. Of this, 908 million tonne has already been firmed up while the rest is being charted.
The company has also kept aside an amount of nearly Rs 4,150 crore to invest in infrastructure projects this year. The project primarily includes railway infrastructure to ensure coal evacuation from all possible areas.
An investment of Rs 5,894 crore had already been approved by theCoal India Board earlier this year focusing on two railway lines – Tori-Shivpur-Kathotia in Jharkhand and Kharsia-Korichapar-Dharamjaigarh in Chhattisgarh largely.
It had also approved an investment of Rs 11,363 crore in two 800 MW coal based super-critical thermal power plants under its subsidiaryMahanadi Coalfields .
The company's existing projects are envisaged to contribute about 165 million tonne of coal towards its 1 billion tonne target, while projects under implementation are likely to contribute 561 million tonne and future projects about 182 million tonne by 2019-20.
Advertisement
The firm, however, has allocated Rs 5,990 crore this year to ramp-up capacity and taking on new projects. The initiative will help the company achieve a production target of 1 billion tonne by 2020. Of this, 908 million tonne has already been firmed up while the rest is being charted.
The company has also kept aside an amount of nearly Rs 4,150 crore to invest in infrastructure projects this year. The project primarily includes railway infrastructure to ensure coal evacuation from all possible areas.
An investment of Rs 5,894 crore had already been approved by the
It had also approved an investment of Rs 11,363 crore in two 800 MW coal based super-critical thermal power plants under its subsidiary
Advertisement
The company's existing projects are envisaged to contribute about 165 million tonne of coal towards its 1 billion tonne target, while projects under implementation are likely to contribute 561 million tonne and future projects about 182 million tonne by 2019-20.
Advertisement
- Paytm shares decline 5, hit lower circuit as COO Bhavesh Gupta resigns
- Rupee rises 3 paise to 83.42 against US dollar in early trade
- Kotak Mahindra Bank shares climb nearly 5% after Q4 earnings
- Stock indices surge as Sensex-Nifty start trading week on positive note
- KL Rahul-led LSG concede biggest defeat margin by runs in IPL against KKR
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market