India approves ₹8500 cr incentives for coal gasification
Upstox
1 min read • Updated: January 24, 2024, 7:51 PM
Summary
The financial assistance by the government will include ₹4050 cr for Public Sector Undertakings (PSUs), ₹3850 cr for private sector and government PSUs and ₹600 cr for indigenous technology and small-scale product based gasification plants
NEW DELHI, Jan 24 (Reuters) - India's cabinet on Wednesday approved plans to provide incentives worth ₹8500 cr ($1.02 billion) for projects to convert coal into gas, the coal and mines minister said, as it seeks to reduce its reliance on imported fuel.
The financial assistance by the government will include ₹4050 cr for Public Sector Undertakings (PSUs), ₹3850 cr for private sector and government PSUs and ₹600 cr for indigenous technology and small-scale product based gasification plants.
India aims to gasify 100 million tonnes of coal by 2030.
"There is absolutely no dearth of coal in this country," said Pralhad Joshi, the Union Minister of Coal and Mines.
The Cabinet also approved two coal gasification plants, including a ₹13050 cr joint venture between Coal India Limited and GAIL and a ₹11780 cr joint venture between Coal India Limited and Bharat Heavy Electricals.