Adani to invest $3.75 billion in coal gasification project

Image
Reuters NEW DELHI
Last Updated : Aug 24 2015 | 4:57 PM IST

NEW DELHI (Reuters) - Adani Group said on Monday it would invest 250 billion rupees ($3.75 billion) in a coal gasification project.

Adani said in a statement the project would be launched in Chhattisgarh, one of India's poorest, where there is an abundant supply of poorer quality coal containing high ash.

It said it would also invest 2 billion rupees in a rice bran solvent extraction plant and a physical refinery packing plant in Chhattisgarh.

Headed by billionaire Gautam Adani, the Adani Group's operations include coal mining, power plants, ports and logistics.

($1 = 66.6900 rupees)

(Reporting by Tommy Wilkes; editing by Jason Neely)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 24 2015 | 4:45 PM IST

Next Story