Coal India, world’s largest coal miner has set aside Rs 24,500 crore for capital expenditure in the 12th Five Year Plan (2012-17) mainly to develop over 100 underground and opencast mines in seven coal producing subsidiaries.
The state-run company is also planning to spend Rs 7,500 crore on rail infrastructure. The PSU will also invest another Rs 7,000 crore on rail projects for faster transportation of coal if all goes well.
The state-run company which accounts for over 80% of the domestic coal production also plans to set up 22 new washeries. It is also eyeing acquisition of assets overseas.
