Coal India has decided to amend the object clause of its memorandum of association (MoA) for foraying into the business of producing fertilisers and chemicals using coal gas.
CIL said Rashtriya Chemicals and Fertilizers Ltd (RCF) had signed a Memorandum of Understanding (MoU) with Gas Authority of India Ltd (GAIL) for jointly exploring the potential use of gas produced from surface coal gas project in the fertiliser industry.
The Ministry of Coal has prepared its agenda for presentation to the Prime Minister. Among the priority list include production enhancement, speedy approvals and restructuring of Coal India.
Coal India has set the target of 507 million tonnes of coal this fiscal, while the target for next year is set around 574 million tonnes. In order to attract private investment, the coal ministry is also looking at working on legal framework for commercial mining.
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