GAIL India Limited and General Electric are exploring the possibility of entering into a joint venture for Rupee.900.00 coal gasification project in Raniganj, West Bengal. Coal India Limited and West Bengal Industrial Development Corporation are expected to pick up stake in the venture. The tie-up between GAIL and General Electric is reported to be a part of a broader partnership to set up integrated gasification combined cycle power plants in the country based on the Chevron-Texaco coal gasification technology. The project is to execute on the basis of debt-equity ratio of 3:1, with the equity portion likely to be around Rupee.300.00 crores. GAIL India has already started on a detailed feasibility report for the project which is scheduled to be completed by May this year. Following the publication of the report, the joint venture company would be incorporated and the project is expected to be operational within a period of two years.
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