-21.25 (-4.83%) Coal India is reportedly planning to form joint venture (JV) with Gail India and IOC to sell the produce and develop coal bed methane fields. This JV will enable the company to inject coal bed methane into the proposed Urja Ganga gas pipeline which intends to meet energy requirements of 40 districts and 2,600 villages covering West Bengal, Bihar, Odisha, Jharkhand and Uttar Pradesh. The company has already lined up investments to the tune of Rs 3,000 crore for its methane projects.
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.