Indian public sector coal mining and refining conglomerate Coal India Limited on Wednesday said it has scaled up its capital expenditure (capex) budget for the ongoing fiscal by an additional Rs 3,000 crore, revising it to Rs 13,000 crore. The boost in capex comes at a time when the government has directed central public sector undertakings (PSUs) to step up their capex to stimulate economic activity.
''This represents 30 percent jump over Central Coalfields original capex target of Rs 10,000 crore for 2020-21,'' Coal India Ltd said in a statement.
Of the additional Rs 3,000 crore capex budget, South Eastern Coalfields Ltd, the largest coal-producing subsidiary of CIL, accounts for Rs 800 crore, followed by CIL headquarters with Rs 585 crore and Mahanadi Coalfields Ltd with Rs 550 crore. Central Coalfields Ltd (CIL) takes up Rs 460 crore, it said.