India-based Adani Group and Australia-based Carbon Energy signed a Memorandum of Understanding (MoU) to form a joint venture to pursue Underground Coal Gasification (UCG) projects likely to be announced on tenements of Coal India (CIL) in India.
The MoU is for a period of 18 months.
The Adani Group has already signed contracts to mine, move and supply around 110 million tonne of coal per year for use by the government owned power utilities in India, a company statement said. Adani Shipping Pte Ltd (ASPL), a subsidiary of Adani Enterprises Ltd (AEL), has purchased two cargo vessels with capacity of 175,000 DWT for transportation of coal from Adani Group’s mines in Indonesia and Australia.
…AEL in August last year had concluded a binding agreement with Australia’s Linc Energy to purchase their Galilee coal tenement in Queensland.