CIL aims to invest `8.5K cr in capex in FY'18: Govt

State-owned CIL is looking at spending Rs 8,500 crore on capital expenditure next fiscal, starting April 1.

"Coal India Ltd (CIL) has kept Capex target of Rs 8,500 crore during 2017-18," Coal Minister Piyush Goyal said in written reply to the Lok Sabha on Thursday.

The PSU has taken various measures for full utilisation of Capex during the next fiscal.

The minister said the materials budget for all the departments concerned is under preparation to expedite the process of procurement.

Besides, the list for procurement of equipment is also under preparation and process of taking approval is in progress.

The mine development activities, Goyal said has been identified and under conceptualisation for implementation and survey-off for different equipment has been expedited.

"Activities related to land acquisition, railway siding, civil works have also been expedited," Goyal said.

Coal India which accounts for over 80 per cent of domestic coal production is eyeing one billion tonnes of output target by 2020.