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The company will establish a centre of clean coal energy & net zero (CLEANZ) at Hyderabad. Both the entities will synergize their efforts in developing cutting edge technology readiness level (TRL) for sustainable utilization of Indian coal. This is in line with the country’s net zero commitments.
The current collaborative model is an research & development (R&D) endeavour under the umbrella of National Centre for Coal and Energy Research (NaCCER). This is an independent R&D unit of CMPDI, the mine development and consultancy arm of CIL.
The CIL management has green flagged a grant of Rs 98 crore to IITH for a duration of five years for setting up centre of excellence. It is anticipated that the project will be financially self-sustainable beyond the initial five year funding received from CIL.
CIL’s Board earlier in July 2024 has given its nod to focus on providing grants to reputed government institutions and research organizations under R&D expenditure. The objective is to enhance research capabilities and establishment of Centres of Excellence.
Coal India is a coal mining company engaged in the production and sale of coal. As of 31 December 2024, the Government of India held a 63.13% stake in the company.
The firm reported a 17.04% decrease in consolidated net profit to Rs 8,505.57 crore in Q3 FY25 from Rs 10,253.48 crore in Q3 FY24. Revenue from operations fell 1.03% to Rs 35,779.78 crore in the third quarter of FY25 from Rs 36,153.97 crore recorded in the same period last year.
The counter 0.97% to settle at Rs 384.00 on the BSE.
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