Adani forms JV with Carbon Energy to bid for UCG projects

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Ahmedabad, Feb 18 (PTI) Adani Group today said it hasinked a Memorandum of Understanding (MoU) with an Australia-based firm Carbon Energy to form a joint venture to pursueUnderground Coal Gasification (UCG) projects in India.

"The two firms have inked a MoU for a strategic jointventure, where they shall jointly be bidding in tenderingprocess for UGC projects likely to be announced on tenementsof Coal India Limited (CIL)," a company official said here.

"The MoU is for a period of 18 months during which itis anticipated that Adani group and Carbon Energy will jointlysubmit bids for establishing UCG project on the Coal Indiatenements in India," he said.

UCG is a process of converting un-worked coal into acombustible gas which can be used as a fuel for heating, powergeneration, manufacture of hydrogen or even diesel fuel.

"Adani has selected Carbon Energy as technology partnerfor important submissions to Coal India, as it is the leadingproponent of UCG globally," Adani Group President-CorporatePlanning Harsh Mishra, said in a statement.

"The company has superiority in UCG technology basedon extensive research conducted in conjunction withAustralia�s CSIRO," he said.

The Adani Group has already signed contracts to mine,move and supply around 110 million tonnes of coal per year foruse by the government owned power utilities in India, acompany statement said. (more) PTI VKB PD DK

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