newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra
Govt. Mantra

Govt approves equity investment by CIL for setting up of Coal-to-SNG Project through a JV of CIL & GAIL;

Govt approves equity investment by CIL for setting up of Coal-to-SNG Project through a JV of CIL & GAIL;

The Cabinet Committee on Economic Affairs (CCEA) chaired by the  Prime Minister Shri Narendra Modi today approved proposal for equity investment by (i) CIL for setting up of Coal-to-SNG (Synthetic Natural Gas) Project at ECL command area through a JV of CIL & GAIL; and (ii) for setting up of Coal-to-Ammonium Nitrate Project at MCL command area through a JV of CIL & BHEL.

The CCEA has approved the proposal of equity investments by CIL as follows:

Equity Capital of Rs.1,997.08 Crore (±25%) by CIL considering a Debt-Equity Ratio of 70:30, and 51% Equity Investment in JV Company with an estimated Project Capex of Rs.13,052.81 Crore (accuracy of ±25%) for the proposed Coal-to-Synthetic Natural Gas (SNG) at Sonepur Bazari Area of Eastern Coalfields Limited (ECL) in Burdwan district of West Bengal through JV of CIL and GAIL.

Equity Capital of Rs.1,802.56 Crore (± 25%) by CIL considering a Debt-Equity Ratio of 70:30, and 51% Equity Investment in JV Company with an estimated Project Capex of Rs.11,782.05 Crore (accuracy of ±25%) for the proposed Coal-to-Ammonium Nitrate (AN) at Lakhanpur Area of Mahanadi Coalfields Limited (MCL) in Jharsuguda district of Odisha through JV of CIL and BHEL.

Approval for Equity Investment by CIL beyond 30% of its Net-worth in the JV of CIL-GAIL as at point (a) above, and in JV of CIL-BHEL as at point (b) above.

Coal India Limited (CIL) will set up following two Coal Gasification Plants with a view to achieve the target of 100 MT coal gasification by the year 2030 and to fulfil India’s dual objectives of self-reliance and energy independence –

CIL has signed MOUs with GAIL for setting up of Coal-to-SNG Project at Sonepur Bazari Area of Eastern Coalfields Limited (ECL) in Burdwan district of West Bengal through JV of CIL & GAIL at an estimated project cost of Rs.13,052.81 Crore (±25%) considering a debt:equity ratio of up to 70:30.

CIL has signed MOUs with BHEL for setting up of Coal-to-Ammonium Nitrate Project at Lakhanpur Area of Mahanadi Coalfields Limited (MCL) in Jharsuguda district of Odisha a JV of CIL & BHEL, at an estimated project cost of Rs.11,782.05 Crore (±25%) considering a debt:equity ratio of up to 70:30.

Related posts

Khadi is creating new records everyday: PM

Newsmantra

Government issues advisory against calls impersonating DoT, threatening people to disconnect mobile numbers

Newsmantra

Shri Gurdeep Singh, CMD welcomed Union Minister of Power and Housing & Urban Affairs, Shri Manohar Lal and Hon’ble Minister of State for Power and New & Renewable Energy, Shri Shripad Yesso Naik at Shram Shakti Bhawan, New Delhi.

Newsmantra

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More