Coal India earmarks over Rs 10,000 cr capex for FY12

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New Delhi: State-owned Coal India (CIL) has earmarked an over Rs 10,000 crore capital expenditure for the current fiscal on capacity expansion and acquisitions that are likely to be completed within the next six months.

"We have set aside Rs 6,000 crore for acquisitions and Rs 4,220 crore on developing different projects within the country," CIL Chairman and Managing Director N C Jha told reporters here.

The cash-rich company, the world`s largest coal producer, would not require to raise any funds for financing the proposed capex, which would be financed entirely through internal accruals.

Jha said the company was hopeful of signing deals for three acquisitions in Australia, the US and Indonesia within the next six months.

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