In the next five years, Coal India (CIL) has planned a capital expenditure of Rs 50,000 crore, agency reports quoted S Narsing Rao, Chairman and Managing Director of the firm as saying.

   Rao is quoted as saying that the company had a cash reserve of Rs 61,000 crore. Of the Rs 50,000 crore capital expenditure, Rs 24,500 crore would be used for raising production capacity.

   The company plans to develop over 100 underground and opencast mines in seven coal producing subsidiaries in the 12th Five Year Plan (2012-17) using the Rs 24,500 crore.

   It may be noted that Finance Minister P Chidambaram had said that the government had already put PSUs on notice and no state-run firm would be allowed to fall short of the announced intention to invest.

   CIL, which accounts for over 80 per cent of the domestic coal production also plans to set up 22 new washeries. World's biggest coal miner, CIL is also eyeing acquisition of assets abroad.