Coal India to invest Rs 15,000 cr in FY18

Coal India to invest Rs 15,000 cr in FY18

Coal India to invest Rs 15,000 cr in FY18

The world’s largest coal miner, CIL, is lining up nearly Rs 8,500 crore as capital expenditure, and Rs 6,500 crore for various other projects in the ongoing fiscal.

The projects include a supercritical thermal power plant, solar energy and coal gasification. “The capital expenditure for 2017-18 has been set at Rs 8,500 crore,” an official said.

Further, the official said, the company is planning to pump in Rs 6,500 crore in a host of projects, including a supercritical thermal power plant, solar power, revival of fertiliser plants, coal gasification and coal bed methane (CBM) during 2017-18.

“In light of the Paris Protocol and consequent changes in the world energy scenario, Coal India is looking forward to diversify its operations towards renewable energy like solar power and clean energy sources like coal mine methane, CBM, coal to liquid and underground coal gasification (UCG), following the government’s directives,” the official added.

The overall capital expenditure of CIL during 2016-17 stood at Rs 7,700 crore, against Rs 6,123 crore in the previous year. “Capital expenditure incurred during 2016-17 is 99.16% of Budget estimates, against (102.21%) in 2015-16,” he added.

Earlier, the government had said the coal major had taken various steps for full utilisation of capex in 2017-18. CIL is eyeing an output of one billion tonnes by 2020.

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