Coal India plans capex of Rs 40,000 cr over 5 yrs

Plan includes development of coal-mine projects, setting up coal washeries and acquisition of coal blocks overseas

State-run Coal India Ltd , the world's largest coal miner, plans to spend nearly Rs 40,000 crore over five years to 2017, its chairman S. Narsing Rao said on Wednesday.

He did not give details of the expenditure, but the company has earlier said its capital expenditure plan includes development of more than 100 coal-mine projects, setting up coal washeries and acquisition of coal blocks overseas.

The heads of nine state-run companies, which are sitting on a cash pile of 1.8 trillion rupees, met Finance Minister P. Chidambaram on Wednesday, who is likely to have pressed the companies to increase investment in proposed infrastructure projects to bolster economic growth that slipped to a near three-year low of 5.5 percent in the June quarter.

 

Separately, the chairman of state-run power utility NTPC Ltd said the company plans to spend Rs 2 lakh crore over five years.