BHEL to invest Rs 3,064 cr in Coal India JV
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New Delhi: Engineering giant Bharat Heavy Electricals Limited (BHEL) said on Thursday it will invest up to Rs 3,064.46 crore as equity into Bharat Coal Gasification and Chemicals Ltd. (BCGCL), according to an exchange filing.
BHEL’s contribution will be spread over four years, into the Joint Venture Company of BHEL and Coal India with equity shareholding of 49 per cent and 51 per cent respectively.
The JV’s initial objective is to undertake chemicals business through setting up a coal to ammonium nitrate plant with a capacity of 2,000 tonnes per day. BHEL’s board approved the formation of a separate joint venture with Titagarh Rail Systems Limited for comprehensive maintenance of supplied Vande Bharat Sleeper trains.
