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Thursday, January 21, 2010 (18:28:01) |
| Tags : business, Essar Oil |
Essar Oil to invest $400 mn in Ranigunj gas project |
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| Essar Exploration and Production Ltd, an arm of Essar Oil, will invest $400 million (Rs.2,000 crore) in its coal bed methane gas project at Ranigunj in West Bengal by 2012, a top company official said here today.
"In April, we will start production of 100,000 cubic metres per day and scale it up to three million cubic metres per day by 2012," said Prem Sawhney, chief operating officer of Essar's clean coal business.
"We plan to bring the gas to Kolkata by laying a pipeline from Ranigunj," Sawhney told reporters on the sidelines of a conference organised by Confederation of Indian Industry.
The company has got another block in Rajmahal in Jharkhand.
Sawhney, however, said work on this block would take another year to begin as environmental clearance and other due diligence work would take time to get completed. (IANS) |
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