India Approves $1.02 Billion in Incentives for Coal Gasification

(Reuters) — India's cabinet on Wednesday approved plans to provide incentives worth 85 billion rupees ($1.02 billion) for projects to convert coal into gas, the coal and mines minister said, as it seeks to reduce its reliance on imported fuel.

The financial assistance by the government will include 40.5 billion rupees for Public Sector Undertakings (PSUs), 38.5 billion rupees for private sector and government PSUs and 6 billion rupees for indigenous technology and small-scale product-based gasification plants.

India aims to gasify 100 million tonnes of coal by 2030.

"There is absolutely no dearth of coal in this country," said Pralhad Joshi, the Union Minister of Coal and Mines.

The Indian cabinet also approved two coal gasification plants, including a 130.5 billion rupees joint venture between Coal India Limited and GAIL and a 117.8 billion rupees joint venture between Coal India Limited and Bharat Heavy Electricals.

($1 = 83.0910 Indian rupees)

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