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Informist, Friday, Mar. 7, 2025

 

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--Coal India CMD: JV with BHEL for coal gasification plant seen ready by FY30
--CONTEXT: Coal India CMD Prasad's comments in interaction with Informist
--Coal India CMD: BHEL JV to invest INR 140 bln on coal gasification plant
--Coal India: JV plan with GAIL for coal gasification plant at advanced stage
--Coal India: Expect GAIL JV plant to be ready by FY31
--Coal India: No proposal to revive plan for Dankuni coal gasification plant
--Coal India: Expect 7-8% coal volume growth in FY26
--Coal India: Coal prices stable now, won't see any price hike in near term
 

 

By Narayana Krishna

 

HYDERABAD - Coal India Ltd. expects its first coal gasification project in Odisha through a joint venture to be ready by the financial year 2029-30 (Apr-Mar), P.M. Prasad, chairman and managing director, told Informist. The public-sector coal miner is setting up the gasification project in a joint venture with Bharat Heavy Electricals Ltd. While Coal India holds 51% in the joint venture, BHEL holds the rest of the stake.

 

Prasad said a pilot project for coal gasification with BHEL was successful, following which the joint venture is going ahead with the full-scale gasification plant. He said the joint venture plans to invest up to INR 140 billion in the plant. The project is now at the tendering stage.

 

He said another joint venture with GAIL India Ltd. is also progressing well, and the coal gasification plant of this joint venture is expected to be ready by FY31. Prasad said the plant with GAIL India is coming up in Ranigunj area under Eastern Coal Fields in West Bengal and the estimated investment is around INR 130 billion. He said the company is not looking to revive its earlier plan to set up a coal gasification plant at the Dankuni coal complex, also in West Bengal.

 

Prasad said Coal India is investing on research and development to use coal resources in a more efficient manner. On Friday, Coal India signed a memorandum of understanding with the Indian Institute of Technology, Hyderabad, to set up a centre of excellence. The centre will focus on clean coal technologies and other applications related to coal.

 

Prasad said the demand for coal in the country is robust and the company expects 7-8% volume growth in FY26. He said there was an issue with one subsidiary, which had an impact on overall output, but the issue was resolved and the company is ready to achieve the desired growth in FY26. He said coal prices are stable now and the company does not expect any rise in the near term. 

 

Coal India posted a consolidated net profit of INR 85.06 billion for the December quarter on a consolidated revenue of INR 357.80 billion. On Friday, shares of the company closed at INR 380.65, down 0.5%, on the National Stock Exchange.  End

 

Edited by Rajeev Pai

 

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