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Informist, Thursday, Feb. 26, 2026

NEW DELHI – Gujarat Mineral Development Corp. Ltd. Thursday said it has signed a memorandum of understanding with state-run power firm NTPC Ltd. to explore developing a framework to study the feasibility of gasifying coal from Gujarat Mineral's blocks in Odisha and lignite from its mines in Gujarat for downstream use. While Gujarat Mineral will undertake the pilot projects for gasification, NTPC will assess the potential end-use application of the syngas produced by Gujarat Mineral, including evaluation of techno-commercial viability, market opportunities, and applicability across relevant industrial sectors.

Following the pilot initiatives, NTPC and Gujarat Mineral will work to develop a framework to jointly produce, market, and commercialise the syngas. Gujarat Mineral said it has initiated preliminary assessment of potential commercialisation of downstream products and a marketing strategy. "The present MoU is expected to complement and strengthen these efforts by integrating NTPC's domain expertise in large-scale energy systems and project implementation, thereby providing institutional momentum to GMDC's gasification roadmap," the Ahmedabad-based company said in an exchange filing.

The two companies also signed a memorandum of understanding to explore the use of coal from Gujarat Mineral's blocks to generate power and sell it to distribution utilities and other end users. "Subject to feasible outcomes and power offtake arrangements, formal agreements such as Fuel Supply Agreements (FSA) and Power Purchase Agreements (PPA) shall be executed," Gujarat Mineral said.

For the December quarter, Gujarat Mineral had reported, on a consolidated basis, a net profit of INR 1.33 billion on a revenue of INR 5.79 billion. NTPC had reported a net profit of INR 49.87 billion on a revenue of INR 406.44 billion. Thursday, shares of Gujarat Mineral closed 2.2% higher at INR 576.80 on the National Stock Exchange while those of NTPC closed 0.8% lower at INR 381.90.  End

Reported by Anand JC

Edited by Rajeev Pai

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