In order to raise its production capacity and ramping up infrastructure, Coal India, the world’s largest coal miner by output, is planning to invest Rs 10,600 crore this financial year. The company has also provisioned Rs 500 crore for its Mozambique project, although this fund is likely to remain unspent.
In FY15, the company had spent Rs 5,173 crore on projects against a targeted investment of Rs 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 is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
