Coal India to spend Rs 700 cr to procure 40 rakes

Kolkata: The Coal India has decided to procure rail wagons under general purpose wagon investment scheme at an estimated cost of Rs 700 crore.

"The Maharatna PSU's board has given the green signal to procure 40 rakes at nearly Rs 700 crore. One rake comprises 59 wagons. According to a rough estimate, one rake can move 1.4 million tonne of coal per annum," the company said on Thursday.

"These CIL owned rakes dedicated only for transport of CIL's coal will help us in pushing higher volumes of coal to the power sector," the miner said.