JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
The Cabinet Committee on Economic Affairs (CCEA) authorised Coal India Limited's (CIL) application to invest in a coal-to-SNG (synthetic natural gas) project in a joint venture with GAIL at its Bengal mines through its subsidiary Eastern Coalfields Limited.
The ₹13052-crore syngas project is set to be developed in the Eastern Coalfields of Sonepur Bazari Area, located in the Burdwan district of Bengal.
The CCEA also approved Coal India's additional investment in a coal-to-ammonium nitrate project in Mahanadi Coalfields in Odisha, a joint venture with BHEL. The project will be established in Jharsaguda, Odisha, at a cost of ₹11,782.05 crore. The state-owned CIL is expected to contribute between ₹3,651-3,800 crore in equity in each joint venture.
CIL will set up the two coal gasification plants with a view to achieving the target of 100MT coal gasification by 2030. The government also approved an outlay of ₹8,500 crore as financial assistance for promoting coal and lignite gasification projects.
The government will provide viability gap funding to the projects to be set up by PSUs, JVs of PSUs, private sector, and R&D organisations. The incentives will come under three categories. For category one, it is ₹4,050 crore, followed by ₹3,850 crore in category two, and category three is ₹600 crore.
Also Read : IndiGrid to setup 180 MW battery energy storage system in Gujarat Uttar Pradesh to become an EV manufacturing hub
NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Li...
Renewables 09-May-2024
Jindal Steel has expanded its Odisha ore presence after being declared the preferred bidder for the...
Business 11-Mar-2026
Auto parts manufacturer Rane (Madras) Ltd (RML) is set to establish a greenfield facility in Aguasca...
Mid Corporate 27-Jan-2024
✅ Govt imposes import curbs to boost domestic steel production.✅ Higher tariffs & qu...
Business 24-Mar-2025
Global Steel Output Update: Falls 2.2% in H1 Global crude steel production declined by 2.2% in the...
China 01-Aug-2025
JSW Steel and POSCO Explore 6 MTPA Joint Venture in India; Odisha Among Key Contenders due to its na...
Large Corporate 18-Aug-2025