CIL set to venture into aluminium, solar
State-owned Coal India Limited (CIL) recently announced that its board has approved venturing into aluminium and solar sectors and manufacturing of special purpose vehicles (SPVs). The mining major accounts for over 80% of domestic coal output.
The CIL Board held a meeting and accorded in-principle approval for the company to venture into the aluminium value chain (mining-refining-smelting) and solar power value chain (ingot-wafer-cell-module and generation).
Creation of special purpose vehicles (SPVs) has also been approved by the Board. The creation, however, is subject to obtaining concurrence from Niti Aayog and the Department of Investment and Public Asset Management (DIPAM), and after the completion of feasibility study and business analysis.