Coal India incorporates new arm for coal-to-chemical business
Coal India in February signed a joint venture agreement with Bharat Heavy Electricals Ltd (BHEL) for undertaking a coal-to-chemicals business.
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Coal India in February signed a joint venture agreement with Bharat Heavy Electricals Ltd (BHEL) for undertaking a coal-to-chemicals business.
The Indian mines ministry is also encouraging other state-owned companies, such as ONGC Videsh, to scout for critical minerals overseas, Rao told reporters at the sidelines of an industry conference in New Delhi.
Total levies paid to the government in March 2024 also went up by 14.8 per cent to Rs 6,069.18 crore from Rs 5,282.59 crore paid in the corresponding month of FY23.
In a statement, the maharatna firm said it posted 25.8 per cent growth in profit after tax (PAT) on a consolidated basis to Rs 8,640 crore in the fourth quarter of FY24.
Coal behemoth CIL on Thursday reported a 26.2 per cent rise in consolidated net profit to Rs 8,682.20 crore for the March quarter on the back higher supplies of the dry fuel.
"CIL achieved 120 per cent target satisfaction over the year's capex target of Rs 16,500 crore. For the fourth fiscal on sequence CIL's capex breached the budgeted target," the PSU said.
These 20 coal blocks which include seven blocks of state-owned Coal India and three blocks of Singareni Collieries Company Ltd (SCCL) will contribute another 100 million tonnes (MT) in three to four years, the source said.
The other two top emitters during 2016-22 period are state-owned oil firm Saudi Aramco and Russia's state-owned energy giant Gazprom.
The report asserted that net zero is not possible without substantial nuclear power and renewable energy generation by 2070.
Coal offtake is expected to stay restricted to 753 million tonnes, nearly 90 per cent of the target of 780 million tonnes, they said.
Coal offtake is expected to stay restricted to 753 million tonnes, nearly 90 per cent of the target of 780 million tonnes