Coal India Ltd.

Coal India (CIL) has lined up investment plans of Rs 5,000 crore during the current 2013-14 fiscal. The world’s largest coal miner is sitting on a huge cash pile and the amount would be spent on a combination of projects on augmenting infrastructure and mines expansion. It includes development of five to six projects, as the company is battling to increase production and has plans to jack up output by 30-35 million tonnes per annum (MTPA).

The PSU is sitting on a cash reserve of Rs 61,000 crore and it has already lined up Rs 50,000 crore investment plan for the next five years, including Rs 24,500 crore capital expenditure. The proposed investment amount would be spent mainly for developing more than 100 underground and opencast mines in seven coal producing subsidiaries in the 12th Five Year Plan (2012-17).

Besides, the state run company which accounts for over 80% of the domestic coal production, also plans to set up 22 new washeries.