Coal India to spend Rs.10,600 crore capex in FY16

For FY16, the company has earmarked Rs.5,990 crore for ramping up capacity and starting new projects, which will help it to achieve a production target of 1 billion tonnes by 2020.

Coal India will spend Rs.10,600 crore in FY16 on augmenting its production capacity and ramping up infrastructure, according to its annual report. India's largest coal producer has also set aside INR 500 crore for its Mozambique project, although this fund may not be spent in the current fiscal year.

In FY15, Coal India had spent Rs.5,173 crore on projects as against a targeted investment of INR 5,225 crore. For FY16, the company has earmarked Rs.5,990 crore for ramping up capacity and starting new projects, which will help it to achieve a production target of 1 billion tonnes by 2020.

Coal India has also proposed an investment of ~Rs.4,150 crore on infrastructure projects this fiscal year, including railway infrastructure, which will ensure coal evacuation from areas not easily accessible.