 "coal")
Coal Minister Pralhad Joshi on Tuesday said that four projects for conversion of coal to clean energy with private sector capital investment of Rs 30,130 crore will help in achieving the target of 100 million tonnes (MT) coal gasification by 2030.
Finance Minister Nirmala Sitharaman in her budget speech 2022-23 announced setting up of four pilot projects for coal gasification.
Gasification of coal is a process in which coal is partially oxidated by air, oxygen, steam or carbon dioxide under controlled conditions to produce a fuel gas.
"Thank you PM @narendramodi ji, FM @nsitharaman ji for envisioning a green economy & encouraging generation of clean energy in the #AatmaNirbharBharatKaBudget. 4 projects for conversion of coal to clean energy have been announced at pvt sector capital investment of Rs 30,130 crore," Joshi said in a tweet.
"These projects will help us achieve the target of 100 MT coal gasification projects by 2030. Not only will this initiative adopt clean coal technology but also help generate employment for population in eastern part of India. #AatmanirbharBharatKaBudget," he tweeted.
These projects will boost domestic production of methanol, dimethyl ether and ammonia, thereby reducing India's import dependency, he said adding that adoption of clean coal technology will help harness this vital natural resource for energy and chemical needs of the nation.
"Boosting Ease of Living, #AatmaNirbharBharatKaBudget will further India's entrepreneurial spirit and lead to enhanced opportunities," he tweeted.
"#AatmaNirbharBharatKaBudget is fueling a billion aspirations," he said.
"Under PM @narendramodi ji, #AatmaNirbharBharatKaBudget has been presented by FM @nsitharaman ji. The #Budget2022 is balanced, dedicated to realise the aspirations of people and build a New India," he tweeted.
While presenting the 2022-23 Budget in the Lok Sabha, Sitharaman said that "four pilot projects for coal gasification and conversion of coal into chemicals required for the industry will be set up for technical and financial viability".
Joshi had earlier said that India's target to gasify 100 million tonnes of coal by 2030 will entail an investment of over Rs 4 lakh crore.
This 100 MT coal gasification will happen in three phases. In the first phase from 2020-2024 -- four million tonnes (MT) of coal will be gasified and around Rs 20,000 crore will be invested for the same.
In the second phase -- from 2020-2026 -- 6 MT of coal will be gasified which will involve an investment of Rs 30,000 crore.
In the third phase -- from 2022-2030 -- 90 MT of coal will be gasified and Rs 3.6 lakh crore will be invested for the same.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
