India's Rs 37,500 Crore Initiative to Boost Coal and Lignite Gasification
The Indian government has unveiled a Rs 37,500 crore scheme aimed at enhancing coal and lignite gasification projects, targeting gasification of 75 million tonnes of coal to attract Rs 3 lakh crore investments. The initiative aims to enhance India's energy security and lessen dependence on imported fuels.
The Indian government announced a substantial Rs 37,500 crore plan to promote coal and lignite gasification projects, with the aim of gasifying 75 million tonnes of coal. Union Minister Ashwini Vaishnaw highlighted this initiative during a Cabinet briefing, led by Prime Minister Narendra Modi, as a strategic move to strengthen India's energy independence.
Post-Cabinet meeting, Minister Vaishnaw emphasized that this scheme will support India's target to gasify 100 million tonnes of coal by 2030. It aims to bolster India's energy security and cut down on imports of LNG, urea, ammonia, and methanol. India holds vast reserves of coal and lignite, supporting over 55% of the nation's energy mix.
The government will offer financial incentives up to 20% of the cost of plant and machinery for new projects, selected through a competitive bidding process. A total of Rs 5,000 crore per project will be provided. Extending coal linkage tenure to 30 years, the government aims to attract Rs 2.5 lakh to Rs 3 lakh crore in investments and create 50,000 jobs.
(With inputs from agencies.)
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