Coal India could increase capex in 12th Plan

Coal India Ltd (CIL), the world's largest coal miner, will "possibly" spend additional money as part of its capital expenditure during the 12th Five Year Plan period, the company's chairman has said.

The state-run coal major has currently lined up a capital expenditure (capex) of Rs.25,400 crore for the period 2012-17.

"We will possibly increase it (capex). We are making an assessment," CIL chairman and managing director S. Narsing Rao told reporters on the sidelines of the company's foundation day programme here Thursday evening.

Asked by how much it would be increased, Rao said: "We cannot say anything at this time. It will take some time for us to assess."

Coal Minister Sriprakash Jaiswal had earlier in the evening emphasised on the need for the CIL to take actions for additional capex investment for the 12th Plan period.

"Coal India Limited must take up this challenge and explore possible opportunities to ensure that adequate capex investments are effectively made during the five year plan period," Jaiswal pointed out.