Coal India Ltd. (CIL) and Bharat Heavy Electricals Ltd. (BHEL) have formed a joint venture company to create a coal-to-chemicals business that would produce up to 2,000 mt/d of ammonium nitrate using BHEL’s in-house developed Pressurized Fluidized Bed Gasification (PFBG) technology, according to Bloomberg, citing a stock exchange filing.
CIL would be ensured at least 75% of the offtake from the project. CIL will own 51% of the jv while BHEL will have 49%. The registered office for the jv will be in the state of Odisha. Each company will have three members on the Board of Directors.