CIL lines up capex for renewed thrust on developing CBM assets

Seizing an opportunity offered by recently relaxed rules, State-run miner Coal India Limited (CIL) has lined up a corpus of around $422-million to kick-start its sputtering coalbed methane (CBM) projects. The renewed thrust of getting the CBM projects off the ground would be initiated by Bharat Coking Coal, a wholly owned operational subsidiary of CIL, which would be taking up developing gas projects at its existing coal blocks with estimated reserves of around 25-billion cubic meters.