Against the capex of ₹6,270 crore in FY20, the company clocked a 109 percent growth amid the Covid slump, according to a senior official of the company.
This also marks the state-owned Maharatna coal miner’s all-time high capital expenditure, breaching the ramped up capex target of Ì€ 13,000 crore, achieving 101 percent of the revised target.
CIL’s original sanctioned capex budget was ₹10,000 crore for FY21.
However, the government assigned CIL a challenging task of achieving 130 percent of the budgeted target to be evaluated as ‘Excellent’ under this specific parameter in MoU rating.
This prompted CIL, for the first ever time, to tweak up its capex budget by 30 percent and revise it to ₹13,000 crore.
“The entire capital expenditure was funded through internal resources. Capex growth during all the four quarters of FY21 was significantly higher compared to previous year. Progressive up to December 2020 also our capex utilisation was more than what was mandated by Ministry of Coal,” said the official.
Procurement of heavy earth moving machinery at ₹3,453 crore topped the list of capex heads for FY21, followed by land at ₹2,470 crore.
Capex in joint ventures, in proportion to CIL’s shareholding, such as Talcher Fertilizers Ltd and Hindustan Urvarak & Rasayan Ltd, accounted for ₹2,194 crore. CIL’s coal evacuation initiatives which include setting up of coal handling plants, silos and constructing sidings, accounted for ₹1,398 crore.
Construction of rail corridors and railway lines summed up ₹1,166 crore, while the rest was made up by different other heads.
Bu hikaye Coal Insights dergisinin April 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Coal Insights dergisinin April 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
SCCL's coal production up 64% in Q1
Coal production by SCCL during Q1 FY22 stood at 15.57mt, 64% higher than 9.50 mt achieved in Q1 FY21.
The UK to end thermal coal use in October 2024
The deadline to phase out coal from Great Britain’s energy system has been brought forward by a year as part of the UK government’s decision to go further in driving down emissions and tackling climate change.
Coal handled by major ports up 38.5% in Q1
The 12 major Indian ports handled 39.37 million tons (mt) of coal (thermal + coking) during April- June of FY22, up by 38.5 percent from 28.42 mt recorded in the corresponding quarter of FY21, according to data released by the Indian Ports Association (IPA).
Cement sector sees demand revival
Retail demand was under pressure during the first two months of FY22 with April and May production falling by 12 percent and 17 percent respectively month-on-month (m-o-m) as per Index of Industrial Production data.
Indian Railways' coal handling up 42% in Q1
Indian Railways in April-June of FY22 transported 157.78 million tons (mt) of coal, up by 42.4 percent from 110.80 mt handled in corresponding quarter of FY21.
CIL's coal production up 2.4% in Q1
Coal India’s (CIL) coal production during April-June quarter (Q1) of FY22 was up by 2.4 percent to 124 million tons (mt) as compared to 121 mt achieved during the same quarter last fiscal (FY21), according to (provisional) data released by the company.
India's May coal imports up 20% y-o-y
Coal and coke imports in May 2021 were up 20.44 percent year-on-year (y-o-y), according to import data available with Coal Insights. Imports rose to 19.92 million tons (mt) from 16.54 mt during May of previous year.
There is still a long way to go to squeeze coal out: BP
There are worrying signs that last year’s Covid-induced dip in carbon emissions will be short lived as the world economy recovers and lockdowns are lifted, says Bernard Looney Chief Executive Officer of BP in the recently published Statistical Review of World Energy 2021 published by the company.
“Growing Infrastrcuture is a big opportunity for OTR Tires in India”
India is now considered to be the largest market for Off-the-Road Tires (OTR) used in construction & mining industry. The opening up of the coal sector has provided further push to the potential usage of such tires. And Balkrishna Industries Ltd, a global player with diversified portfolio under the BKT brand across agriculture, industrial, construction, earthmoving, mining and port is set to seize the opportunity. Rajiv Poddar, Joint Managing Director, Balkrishna Industries Ltd., tells Arindam Bandyopadhyay of Coal Insights about the opportunities and outlook for the sector and the company.
SCCL's coal production up 69% in May
After putting up a dismal performance last year, Singareni Collieries Company Ltd (SCCL) has started the new fiscal on a high note. Coal production by SCCL in May 2021 surged to 5.44 million tons (mt), about 68.56 percent higher than 3.23 mt achieved in the same month last year, according to (provisional) data released by the company.
