NEW DELHI: Coal India Ltd’s capital expenditure rose to Rs 3,034 crore during the first quarter, marking a 65% jump over the previous corresponding quarter as the world’s largest coal miner races to raise output amid lingering shortage at power plants.
Land acquisition (Rs 608 crore) and strengthening of transport infrastructure (Rs 577 crore) under the first-mile connectivity projects hogged most of the expenditure, the company said on Monday.
Land acquisition and connectivity hold the key to expanding mining operations for accelerated production and seamless transportation of coal, a company official said.
Land acquisition across subsidiaries accounted for a fifth of the capex basket, representing more than two-fold increase over the spending in the April-June period of 2021. Capex on connectivity projects marked a four-fold increase over the previous corresponding quarter.
This is the ninth consecutive quarterly growth in the company’s capex.
