Deals28 May 2024, 11:15 pm
BHEL and CIL Incorporate Joint Venture Company 'Bharat Coal Gasification and Chemicals Limited'
AI Summary
Bharat Heavy Electricals Ltd. (BHEL) and Coal India Ltd. (CIL) have incorporated a Joint Venture Company named 'Bharat Coal Gasification and Chemicals Limited' on 21st May 2024. The Joint Venture Agreement was signed on 28th February 2024 to undertake Coal to Chemicals business. CIL holds 51% and BHEL holds 49% equity in the new company. The Certificate of Incorporation has been received from the Ministry of Corporate Affairs, Govt. of India on 28th May 2024.
Key Highlights
- Joint Venture Agreement signed between BHEL and CIL on 28th February 2024 for Coal to Chemicals business.
- Joint Venture Company 'Bharat Coal Gasification and Chemicals Limited' incorporated on 21st May 2024.
- CIL holds 51% and BHEL holds 49% equity in the new company.
- Certificate of Incorporation received from the Ministry of Corporate Affairs, Govt. of India on 28th May 2024.
- The new company is a Private Limited Company with an authorized capital of Rs. 11 crores and a paid-up capital of Re. 1 Lakh.