BPCL and CIL form joint venture to invest Rs 12,000 crore in coal gasification
Government-owned Bharat Petroleum Corp (BPCL) and Coal India (CIL) have plans to form a Joint Venture (JV) and invest Rs 12,000-crore coal gasification project in the Chandrapur district of eastern Maharashtra. In the JV CIL would hold 51% while BPCL would hold 49%.
As per the update, the aim is to boost the National Coal Gasification Mission (NCGM). The project, with a debt-to-equity ratio of either 70:30 or 65:35, will produce synthetic natural gas, enhancing cleaner energy and energy security.
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