Kolkata: Coal India’s (CIL) subsidiary Bharat Coking Coal (BCCL) on Monday signed a first-of-its-kind revenue-sharing contract worth tentatively Rs 1,880 crore for commercial extraction of coal bed methane (CBM) with CBM developer Prabha Energy, selected through a global bidding process. CBM would be extracted from Jharia Block I under leasehold area of BCCL.
The CBM extraction is part of CIL’s diversification exercise. While BCCL would be putting up close to Rs 370 crore towards the cost of the land, the rest will be met by the CBM developer. CIL has assigned CMPDI, its Ranchi-based consultancy arm, as the principal implementing agency to oversee the project.
