On 24th December’20, Coal India Ltd., the Indian public sector coal mining and refining company and also the world’s largest coal-producing company’s board have delivered in-principle approval for venturing into the aluminium value chain, solar sectors and creation of special purpose vehicles (SPVs).
Coal India (CIL), contributes around 82% to the total coal production of India, however on contrary CIL ranks 8th among the top 20 firms responsible for a third of all global carbon emissions.
The Public Sector Undertaking, during filing to an Indian Stock Exchange (BSE), said: "CIL Board in its Meeting held on date, accorded its 'In-Principle' approval to venture into aluminium value chain (mining-refining-smelting) and solar power value chain (ingot-wafer-cell-module and generation)," the PSU said in a filing to BSE.”
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The board also delivered approval stamp for creating Special Purpose Vehicles (SPVs), subject to obtaining concurrence from Niti Aayog, DIPAM and after completion of feasibility studies and business analysis.
“The feasibility analysis has to be conducted for the solar power value chain business vertical at CIL, new and renewable energy (non-conventional) business vertical and integrated aluminium complex, a greenfield project by CIL subsidiary Central Coalfields Ltd”, it added.
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