GEECL to invest Rs 2,500 cr in Bengal to extract coal-bed methane
In a huge boost to industry in Bengal, energy major Great Eastern Energy Corporation Limited (GEECL) has decided to invest Rs 2,500 crore to extract coal-bed methane from coalfields in Raniganj.
Coming just before the Bengal Global Business Summit (BGBS), this decision is being seen as major thumbs up for the climate for investment in the state, something that Chief Minister Mamata Banerjee has been stressing on at every business interaction she has.
A spokesperson for GEECL has said that the company would set up 144 wells and a commensurate length of pipelines to extract the methane.
It should be mentioned here that GEECL already operates a methane-extraction setup in the Raniganj (South) block. This Rs 2,500 crore new investment is a big step in the right direction.