Coal India Starts New Subsidiary for Coal-to-Chemical Business – Equitypandit
Coal India, on Tuesday, 28 May, incorporated a new subsidiary firm, Bharat Coal Gasification and Chemicals Ltd, to undertake a coal-to-chemical business. In this new entity, Coal India holds a 51% majority stake, whereas Bharat Heavy Electricals Ltd holds the remaining 49% stake. Earlier in February, the company signed a joint venture agreement with BHEL to undertake…