BPCL, CIL may put Rs 12,000 crore into coal gasification JV
coal gasification project in the Chandrapur district of eastern Maharashtra, sources aware of the development told ET. CIL will hold 51% in the proposed JV, while BPCL will hold 49%, said the sources cited above.
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The project will have a debt-to-equity ratio of either 70:30 or 65:35, with each partner contributing equity commensurate with their shareholdings.
“The companies plan to commission a detailed feasibility report. Work on the project will start after that,” an industry official said.
The project is being set up to support the country's National Coal Gasification Mission to achieve a coal gasification and liquefaction target of 100 million tonnes by 2030, said the official cited above.
BPCL aims to produce 1.83 million standard cubic meters of gas per day through coal gasification for both captive and commercial use. Coal gasification converts coal into synthetic natural gas (SNG), offering a cleaner energy alternative.
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