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Coal India has set a capital expenditure target of Rs 17,000 crore for the current financial year

Coal India has set a capital expenditure target of Rs 17,000 crore for the current financial year
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Coal India has set a capital expenditure target of Rs 17,000 crore for the current financial year

Coal India has set a capital expenditure target of Rs 17,000 crore for the current financial year

Kolkata, Aug 15 (PTI) Coal India Limited has set a capital expenditure target of Rs 17,000 crore for the financial year 2021-22, which is about Rs 4,000 crore more than last year’s expenditure. An official gave this information on Sunday.

He said the company expects to improve cash flow due to rising demand for coal and higher revenue from e-auction sales.

The total capital expenditure this year is Rs 17,000 crore, the official told PTI. This includes Hindustan Fertilizers and Chemicals Ltd. And Talcher Fertilizers Ltd. This includes Rs 3,000 crore. Also, Rs 1,000-1,500 crore will be spent to build the railway line through the joint venture company.

The public sector maharatna company had revised its capital expenditure budget for the financial year 2020-21 from an initial estimate of Rs 10,000 crore to Rs 13,115 crore.

It is noteworthy that in the wake of the Kovid-19 outbreak, the central government had directed public sector companies to increase capital expenditure to accelerate the growth of the economy.

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