State-run Coal India, reportedly, is planning a capital expenditure of Rs 40,000 crore in coming five years. The company has not given any details about the said expenditure. But, the world’s largest coal miner earlier announced that it is planning to develop over 100 coal-mine projects and setting up coal washeries. Moreover, the capex may also include acquisition of coal blocks overseas.
Recently, Coal India’s subsidiary Mahanadi Coalfields (MCL), is likely to restart operations at six mines in the Orient area of Ib Valley in Odisha within a week. MCL has approached the Supreme Court seeking a stay order against closure of the mines by the Odisha Government.
