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Coal India to up spending 17%

27 Jan 2011 Evaluate

Coal India plans to increase spending by 17% to 4,220 crore ($923 million) in the year starting April 1 as the company seeks to expand production. Spending in the next financial year is mainly for increasing plant and machinery, acquiring land for new projects and for paying compensation for forest land.

Coal India will carry forward 6,000 crore earmarked for overseas acquisitions to the next year because the entire amount won’t be used in the remaining two months of the current financial year. The company plans to acquire mines abroad to supply utilities planning to increase power generation capacity by 18% by March 2012.

Coal India Share Price

441.65 2.95 (0.67%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 441.65
NMDC 88.81
GMDC 691.40
Sandur Manganese 213.50
MOIL 321.05
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