Adani, Essar and Reliance IndustriesNSE -1.02 % have participated in a pre-bid meeting for Rs 3,750 crore coal bed methane (CBM) projects on revenue-sharing basis, a Coal India executive said.
Coal India plans to invite global bids for projects at Jharia in Jharkhand and Raniganj in West Bengal this week after board approval, he said.
Coal India has decided to develop two CBM projects at subsidiaries, Bharat Coking Coal’s Jharia coalfields and Eastern Coalfields’ Raniganj coal blocks. The company is also considering new CBM projects at subsidiaries South Eastern Coalfields and Central Coalfields.
The company has decided to develop the projects on a revenue-share basis. Bidding will be on the basis of revenue they intend to share, with no floor for bidding. Subsidiaries will be responsible for procuring statutory and other clearances, he said.
