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CIL To Hold 51% Stake In Joint Venture With BHEL

Chem Dive Team by Chem Dive Team
March 1, 2024
in Asia, Latest News
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CIL To Hold 51% Stake In Joint Venture With BHEL

Coal India Limited (CIL) on Wednesday stated it will keep a 51 step with cent stake in the joint venture with Bharat Heavy Electricals Limited (BHEL) for the coal-to-chemical compounds venture in Odisha.

“To form a JV organization to adopt coal-to-chemical compounds enterprise with the aid of first of all setting up a Coal to 2000 heaps per day (TPD) Ammonium Nitrate Plant using BHEL’s in-house advanced PFBG (Pressurized Fluidized Bed Gasification) generation,” the agency knowledgeable the bourses.

“Equity shareholding will be fifty-one in keeping with cent with CIL and 49 percent with BHEL,” the miner stated.

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The CIL undertaking entails its subsidiary Mahanadi Coalfields Limited (MCL) in Jharsuguda district of Odisha at an envisioned project price of Rs 11,782 crore considering a debt-fairness ratio of as much as 70:30, the government said earlier.

The assignment will kick off with the development of the latest Coal to Ammonium Nitrate Plant, leveraging BHEL’s Pressurized Fluidized Bed Gasification (PFBG) generation.

CIL, in a pivotal role, pledges to assure the off-take of not less than 75 percent of the manufacturing.

The enterprise additionally stated that the JVC for the improvement of coal to Syngas Island/gasification plant on a lump sum turnkey foundation harnessing BHEL’s esteemed PFBG era, following the meticulous scrutiny and finalization after a Detailed Feasibility Report (DFR).

Meanwhile, CIL had signed an MoU with GAIL for setting up of Coal-to-Synthetic Natural Gas) undertaking at the Sonepur Bazari region of Eastern Coalfields Limited (ECL) in Burdwan district at a predicted undertaking value of Rs 13,052 crore.

Source: https://en.m.wikipedia.org/wiki/File:BHEL_logo.svg
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Chem Dive Team

Chem Dive Team

Welcome to the insightful world of chemical knowledge! I'm Mahima Mehta, a seasoned content writer with a passion for all things chemical. With 15 years of experience in the industry, I've dedicated myself to bringing you the latest developments, in-depth analysis, and engaging narratives from the realm of chemistry.

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