CIL approves investment of Rs 1,594 cr as part of equity capital for 3 fertiliser plants

NEW DELHI: State-owned CIL has approved an aggregate investment of Rs 1,593.84 crore as a part of its equity capital towards setting up of three natural gas-based fertiliser plants.

The plants would be set up in Gorakhpur( Uttar Pradesh), Barauni (Bihar) and Sindri (Jharkhand), Coal Minister Pralhad Joshi said in a written reply to Rajya Sabha.

The diversification areas which include new and renewable energy and solar power value chain "are currently under feasibility study stage, as such no separate capital funds have been earmarked," the minister said.

With a view to enhance energy security and raw material security of the nation, the Coal India (CIL) board had in December last year accorded its approval for venturing into the business areas like new and renewable energy, he said.

Coal India accounts for over 80 per cent of domestic coal output