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Coal India’s arm sign revenue sharing contract of Rs 1,880 crore

21 Sep 2021 Evaluate

Coal India’s (CIL) subsidiary -- Bharat Coking Coal (BCCL) has signed a revenue sharing contract worth nearly Rs 1,880 crore for commercial extraction of coal bed methane (CBM) with Prabha Energy. The CBM would be extracted from Jharia Block I under leasehold area of BCCL.

While BCCL would be putting up close to Rs 370 crore towards the cost of the land, the rest will be met by the CBM developer, selected through a global bidding process. CIL has assigned CMPDI, its Ranchi-based consultancy arm, as the principal implementing agency to oversee the project. This is an important development and with this CIL would be stepping into a new era of CBM extraction on its own in its leasehold area.

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.

Peers
Company Name CMP
Coal India 419.00
NMDC 80.69
Ashapura Minechem 518.35
Sandur Manganese 182.00
GMDC 553.15
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