Bharat Heavy Electricals (BHEL) has signed a joint venture agreement (JVA) with Coal India (CIL) to form a Joint Venture Company to undertake Coal to Chemicals business by initially setting up a Coal to 2000 TPD Ammonium Nitrate Plant using BHEL’s in-house developed PFBG (Pressurized Fluidized Bed Gasification) technology. Equity shareholding shall be 51% with CIL and 49% with BHEL. The Joint Venture Company shall be incorporated as a ‘Private Limited’ Company with an Initial paid-up share capital of Rs 1 lakh.
Bharat Heavy Electricals is an Indian central public sector undertaking and the largest government-owned power generation equipment manufacture.
