On Monday, Coal India increased its capital expenditure by 64.8 per cent to Rs 3,034 crore in the June quarter of 2022-23. Last year in the same quarter, Coal India’s capital expenditure was Rs 1,841 crore.

“Sustaining its growth in capital expenditure (CAPEX) for the ninth quarter on the trot, Coal India Ltd (CIL) achieved a sturdy 65 per cent growth in the first quarter FY23 over the comparable quarter last year,” it said in a statement.

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The land acquisition value at 608 crores accounted for nearly one-fifth of the Q1 total CAPEX basket. This is close to 2.3 times of Rs 268 crore spent under this head during April-June 2021-22.

“The CAPEX increase came from spending on land and strengthening transport infrastructure in our coalfields under first-mile connectivity (FMC) projects. These two vital areas help CIL expand its mining operations for accelerated production and pair it with seamless transportation of coal,” a senior company official said.