CIL board nod to entry into aluminium, solar sectors

State-owned Coal India on Thursday said its board has given in-principle approval for venturing into aluminium and solar sectors and creation of special purpose vehicles (SPVs).

Coal India (CIL), which accounts for over 80 per cent of domestic coal output, has expertise in mining.

“CIL Board in its Meeting held on date, accorded its ‘In-Principle’ approval to venture into aluminium value chain (mining-refining-smelting) and solar power value chain (ingot-wafer-cell-module and generation),” the PSU said in a filing to BSE.

The board also approved creating SPVs, subject to obtaining concurrence from Niti Aayog, DIPAM and after completion of feasibility studies and business analysis.