Coal India tie up with private companies, plans to invest in new business area

New Delhi: Coal India Limited, an public sector coal mining, and refining company is planning to invest in twenty sir projects which include Solar, Thermal, and Aluminum projects worth Rs 1.43 lakh crore in the new business area. 

The Aluminium Project is a joint venture with the National Aluminium Company Limited, According to CNBC-TV18 the company has received approvals from NITI Aayog, DIPAM for the solar water manufacturing, and the greenfield aluminium projects. 

The company has already signed the agreements and prepared a draft market assessment report, the company's aim is to float tender for the JV by Q2 of FY22, and plans for a special purpose vehicle. Rs 26,000 crore is proposed for solar water manufacturing and Rs 38,000 crore for aluminium smelting greenfield project by Coal India.

The company also plans to invest Rs 38,000 crore in clean coal technologies and solar power generation projects. For thermal power projects, Coal India is planning to commission it with lignite Neyveli Lignite Corporation, plans to participate in the solar energy corporation of India (SECI) also. Coal India's 50 percent the investment will go for the new business areas for sure.