Coal India, responsible for around 78% of the country's coal output, has outlined a comprehensive diversification strategy aimed at boosting its earnings and ensuring its long-term relevance in the energy sector. Debasish Nanda, Director of Business Development, Coal India, shared the company's plans and progress on various projects both in India and abroad in an interview with the source. Coal India has formed Bharat Coal Gasification and Chemicals Limited in partnership with BHEL, holding 51% and 49% equity respectively. The project, located in Lakhanpur, Odisha, will produce 660,000 tons of ammonium nitrate annually, utilising 1.3 million tons of coal from Mahanadi Coalfields Limited (MCL). The project is expected to be operational by 2028-29. Another venture with GAIL involves setting up a coal-to-synthetic natural gas (SNG) project in Sonepur Bazari, West Bengal, with an estimated combined cost of Rs 250 billion. A detailed feasibility report is in progress. Coal India, in collaboration with IOCL, NTPC, FCIL, and HFCL, has formed Hindustan Urvarak & Rasayan Limited (HURL) to revive three natural gas-based ammonia-urea fertilizer plants in Gorakhpur (UP), Sindri (Jharkhand), and Barauni (Bihar). The combined cost of these projects is around Rs 300 billion, with HURL generating a revenue of Rs 150 billion and a net profit of Rs 13.25 billion in FY24. Talcher Fertilisers Limited (TFL) in Odisha, a JV between CIL, GAIL, RCF, and FCIL, is another coal-based fertiliser project with an estimated cost of Rs 170 billion, currently in the construction stage. Coal India plans to set up thermal power plants through its subsidiary, Mahanadi Basin Power Limited. The first phase will see the construction of a 2x800 MW plant in Sundargarh, Odisha, followed by three additional 800 MW units. CIL has signed MOUs with Assam and Haryana state discoms for power purchase agreements. To achieve net-zero energy status, Coal India aims to establish 3,000 MW of solar power capacity by 2027-28, with plans to further target an additional 2,000 MW in collaboration with state PSEs. Coal India is exploring critical mineral assets such as lithium, graphite, cobalt, and nickel both domestically and overseas in locations like Australia, Chile, and Argentina. The company is also participating in mineral block auctions and is in talks to collaborate on battery manufacturing and advanced chemistry cells. Coal India has identified 24 abandoned mines for potential pump storage projects (PSPs). A consultant is evaluating these sites, with a pre-feasibility report expected by November. Initially, the five best sites will be developed for PSP projects. Given that coal accounts for about 73% of electricity generation in India, Coal India?s diversified projects are crucial for its future preparedness and relevance. With these long-term initiatives, the company aims to achieve a topline boost of around 18-20% by 2030 and expand its geographical footprint in the minerals sector. (Source: The Telegraph)