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Market Chatter: Reliance Eyes INR2.7 Trillion Investment for Andhra Coal Gasification Project

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Reliance Industries (NSE:RELIANCE, BOM:500325) has proposed investing about 2.73 trillion rupees over 30 years to develop an integrated underground coal gasification complex in Andhra Pradesh's Eluru district, The Economic Times reported.

The project is subject to successful exploration and commercial viability, according to the report.

The project at the Chintalapudi and Recherla coal blocks will reportedly involve up to 30 billion rupees in exploration and pilot phases through 2027.

This will be followed by 1.20 trillion rupees in development spending from 2028 to 2030 and 1.50 trillion rupees during the production phase from 2030, the report said.

Reliance Industries did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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