Coal India to spend Rs 700 cr to procure 40 rakes

The Coal India has decided toprocure rail wagons under general purpose wagon investmentscheme at an estimated cost of Rs 700 crore

"The Maharatna PSU's board has given the green signalto procure 40 rakes at nearly Rs 700 crore. One rake comprises59 wagons. According to a rough estimate, one rake can move1.4 million tonne of coal per annum," the company said onThursday

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