In a bid to foray into the business of fertilisers and chemicals, Coal India (CIL) has decided to amend its memorandum of association (MoA). The amendment will allow the Maharantna firm to produce, process, store, distribute, sell import, export or otherwise deal in gas and other byproducts arising from coal gasification and use them to produce ammonium nitrate, fertilisers and associated products.
The amendment will also permit the coal PSU to install and operate such plant in the country and overseas.
Meanwhile, Coal India is reportedly planning to enter into Rs 10,000-crore joint venture with GAIL India, Rashtriya Chemicals & Fertilizers (RCF) and The Fertilizer Corporation of India (FCIL) to set up a urea and ammonium nitrate chemicals complex that will run on gasified coal.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
Company Name | CMP |
---|---|
Coal India | 474.80 |
NMDC | 269.10 |
GMDC | 448.65 |
Sandur Manganese | 512.70 |
MOIL | 446.30 |
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