News Release Details
Great Eastern to become integrated player
New Delhi 16-Aug-2007
The first company to produce coal-bed methane in India, Great Eastern Energy Corp Ltd, plans to invest Rs 6,000 crore to become an upstream and downstream-integrated player by 2016. "We plan to make this investment...over a period of next seven to nine years," said Prashant Modi, president and chief operating officer of Great Eastern. Great Eastern is exploring and developing production wells for its methane block in Damodar Valley (Raniganj coalfield), near Asansol in West Bengal. Coal-bed methane has proven to be a viable alternative to natural gas as fuel for power generation and fertilizer and ceramics production. It is a gas found in coal seams and India has the sixth largest reserves of coal in the world.
New Delhi 16-Aug-2007
The first company to produce coal-bed methane in India, Great Eastern Energy Corp Ltd, plans to invest Rs 6,000 crore to become an upstream and downstream-integrated player by 2016. "We plan to make this investment...over a period of next seven to nine years," said Prashant Modi, president and chief operating officer of Great Eastern. Great Eastern is exploring and developing production wells for its methane block in Damodar Valley (Raniganj coalfield), near Asansol in West Bengal. Coal-bed methane has proven to be a viable alternative to natural gas as fuel for power generation and fertilizer and ceramics production. It is a gas found in coal seams and India has the sixth largest reserves of coal in the world.