Joint Venture5 Aug 2024, 08:31 pm
COAL INDIA LTD. and GAIL INK JV Agreement for Coal to Synthetic Natural Gas Plant
AI Summary
Coal India Ltd. (CIL) and GAIL (India) Ltd. (GAIL) have entered into a Joint Venture Agreement (JVA) to set up a Coal to Synthetic Natural Gas (SNG) plant at Eastern Coalfield Limited (ECL), Bardhaman, West Bengal. The JVC will have an initial paid-up share capital of INR 1,00,000 (One Lakh only) and the registered office will be in West Bengal, India. CIL and GAIL will each nominate three executives as Directors of the JVC. This JVA does not involve any related party transactions.
Key Highlights
- CIL and GAIL enter Joint Venture Agreement for Coal to Synthetic Natural Gas plant
- Plant to be set up at Eastern Coalfield Limited, Bardhaman, West Bengal
- JVC to have initial paid-up share capital of INR 1,00,000
- Registered office of the JVC to be in West Bengal, India
- CIL and GAIL to each nominate three executives as Directors of the JVC