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Coal India’s target of spending up to Rs 50000 crore in the next four to five years

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Coal India’s target of spending up to Rs 50000 crore in the next four to five years

Kolkata, Nov 24 (PTI) Public sector Coal India Ltd. (CIL) on Wednesday said the company has a capital expenditure target of Rs 40,000-50,000 crore in the next 4-5 years.

Coal India Chairman Pramod Agarwal told investors that capital expenditure of Rs 17,000 crore for the current financial year is as per plan. They recognized that a price review was necessary and expected it to happen soon.

“We have incurred capital expenditure of Rs 7,000 crore so far and our target of Rs 17,000 crore for the current financial year is progressing as planned,” Agarwal said. We will invest around Rs 40,000-50,000 crore in the next 4-5 years.

He said that most of the capital expenditure would be spent on coal production and extraction.

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