CIL arm Bharat Coking Coal enters CBM extraction with Rs 1,800-cr project

Signs joint venture with Ahmedabad-based Prabha Energy Pvt Ltd for the Jharia Block-1 in Jharkhand

Coal India’s subsidiary Bharat Coking Coal ltd (BCCL) has ventured into coal bed methane (CBM) extraction through a joint venture with Ahmedabad-based Prabha Energy Pvt Ltd. The two companies have signed a revenue sharing contract worth Rs 1,800 crore for Jharia Block-I in Jharkhand.

BCCL would invest Rs 370 crore towards the cost of the land and the balance cost will be met by the CBM developer Prabha Energy. The block is owned by BCCL.

The company said Jharia CBM Block-I has a resource of around 25 billion Cubic Metres (BCM) and average production capacity is pegged at 1.3 million