Market Chatter: Reliance Eyes INR2.7 Trillion Investment for Andhra Coal Gasification Project

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Market Chatter: Reliance Eyes INR2.7 Trillion Investment for Andhra Coal Gasification Project

MT Newswires Live09:12

Reliance Industries (NSE:RELIANCE, BOM:500325) has proposed investing about 2.73 trillion rupees over 30 years to develop an integrated underground coal gasification complex in Andhra Pradesh's Eluru district, The Economic Times reported.

The project is subject to successful exploration and commercial viability, according to the report.

The project at the Chintalapudi and Recherla coal blocks will reportedly involve up to 30 billion rupees in exploration and pilot phases through 2027.

This will be followed by 1.20 trillion rupees in development spending from 2028 to 2030 and 1.50 trillion rupees during the production phase from 2030, the report said.

Reliance Industries did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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