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Adani forms venture with Australian firm

AHMEDABAD: Adani Group on Friday said it had inked a memorandum of understanding with Australia-based Carbon Energy to form a joint venture to pursue underground coal gasification (UCG) projects in India.

“The two firms have inked an MoU for a strategic joint venture, where they shall jointly be bidding in tendering process for UGC projects likely to be announced on tenements of Coal India Limited (CIL),” a company official said here.

Bids

“The MoU is for a period of 18 months during which it is anticipated that Adani group and Carbon Energy will jointly submit bids for establishing UCG project on the Coal India tenements in India,” he said. UCG is a process of converting un-worked coal into a combustible gas which can be used as a fuel for heating, power generation, manufacture of hydrogen or even diesel fuel. — PTI

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