Coal India clocks 7 per cent rise in production

A Government of India enterprise and Maharatna categorised company, Coal India's coal production increased by 7.2 per cent in December 2019, the company said in press release submitted to the stocks exchanges.

The company has reported a rise in its production by 7.2 per cent to 58.02 million tonnes in December 2019. The production in the same month a year ago stood at 54.14 million tonnes. Coal offtake during December, too, increased by 1.9 per cent to 53.63 million tonnes as compared to 52.61 million tonnes in the year-ago month.

Reportedly, the company has also planned a huge Capex in the near future. It will spend nearly Rs. 6,900 crore on various things, such as acquiring land, new heavy mining machinery, wagons, and on-mine development activities.

At the end of FY19, the company had mentioned a total investment of Rs. 10,000 crore for sustainable growth in volumes. It spent about Rs 3,100 crore in the first nine months of the fiscal. Till November 2019, it had invested about Rs 2,400 crore, and in December it spent another Rs 700 crore.

Coal India is the world’s largest coal mining company engaged in the production of coking and non-coking coals of different grades for diverse applications.

At 12.40 pm stock traded at Rs. 211.30, down by 0.28 per cent on BSE.