KOLKATA: Coal India has decided to auction coal bed methane extraction rights on revenue sharing basis for all new mines holding economically viable reserves and has appointed its exploration arm, Central Mine Planning and Design Institute (CMPDIL) as its principal implementing agency for all such projects.
As part of the Rs 20 lakh crore fiscal stimulus package, the finance minister on Saturday, announced auction of CBM extraction rights from Coal India mines.
Development of CBM blocks including capital investment will be undertaken by the bidder willing to share the largest proportion of revenue with Coal India. Methane sale will boost CILNSE 4.27 %’s bottomline considerably.
