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Coal India earmarks corpus for CBM foray

Creamer Media Correspondent
State-owned Coal India Limited (CIL) has earmarked $462-million for its foray into exploration and production of coal-bed methane (CBM), following government’s announcement that it will relax rules to allow the company to exploit the resource. Though plans are yet to be finalised, sources have said that the initial investment would possibly ride on two coal blocks in eastern Indian province of Jharkhand, recently allocated under the preferential nomination basis to CIL subsidiary Bharat Coking Coal Limited (BCCL).

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