GAIL, Coal India Form JV for Natural Gas Infrastructure Project
COAL & MINING

GAIL, Coal India Form JV for Natural Gas Infrastructure Project

GAIL (India) and Coal India have announced the formation of a joint venture to develop a coal-to-synthetic natural gas (SNG) project in the eastern coalfields. The initiative will be undertaken through a newly established subsidiary named Coal Gas India.

Both state-owned Maharatna companies disclosed the development through separate exchange filings on 25 March. Coal Gas India Limited has been set up with an authorised share capital of Rs 110 million and an initial paid-up capital of Rs 1 lakh. Of this, Coal India has contributed Rs 51,000, while GAIL has contributed Rs 49,000.

The Ministry of Corporate Affairs has issued the certificate of incorporation for Coal Gas India, formally registering the entity under Indian corporate laws. The shareholding structure reflects Coal India’s majority stake with 5,100 equity shares, each valued at Rs 10, and GAIL’s holding of 4,900 equity shares of the same value. This gives Coal India a 51 per cent ownership in the joint venture, with GAIL holding the remaining 49 per cent.

The primary objective of the joint venture is to implement the coal-to-SNG project and facilitate the utilisation of the synthetic gas produced, aligned with prevailing market conditions. This project is expected to contribute to India's energy diversification efforts and reduce reliance on traditional fossil fuels.

On the day of the announcement, share prices of both companies declined. Coal India's stock dropped by 1.84 per cent, closing at Rs 398.40, marking its second consecutive day of losses. Meanwhile, GAIL India’s share price fell by 2.07 per cent to Rs 177.55, ending its five-day winning streak.

News source: Business World

GAIL (India) and Coal India have announced the formation of a joint venture to develop a coal-to-synthetic natural gas (SNG) project in the eastern coalfields. The initiative will be undertaken through a newly established subsidiary named Coal Gas India. Both state-owned Maharatna companies disclosed the development through separate exchange filings on 25 March. Coal Gas India Limited has been set up with an authorised share capital of Rs 110 million and an initial paid-up capital of Rs 1 lakh. Of this, Coal India has contributed Rs 51,000, while GAIL has contributed Rs 49,000. The Ministry of Corporate Affairs has issued the certificate of incorporation for Coal Gas India, formally registering the entity under Indian corporate laws. The shareholding structure reflects Coal India’s majority stake with 5,100 equity shares, each valued at Rs 10, and GAIL’s holding of 4,900 equity shares of the same value. This gives Coal India a 51 per cent ownership in the joint venture, with GAIL holding the remaining 49 per cent. The primary objective of the joint venture is to implement the coal-to-SNG project and facilitate the utilisation of the synthetic gas produced, aligned with prevailing market conditions. This project is expected to contribute to India's energy diversification efforts and reduce reliance on traditional fossil fuels. On the day of the announcement, share prices of both companies declined. Coal India's stock dropped by 1.84 per cent, closing at Rs 398.40, marking its second consecutive day of losses. Meanwhile, GAIL India’s share price fell by 2.07 per cent to Rs 177.55, ending its five-day winning streak. News source: Business World

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?