Coal gasification process (CGP) would certainly help steelmakers manufacture steel using swadeshi coal, truly leading to an Atma Nirbhar Bharat, Jindal Steel & Power Limited chairman Naveen Jindal has said. He had commented on Finance Minister Nirmala Sitharaman's announcements on Saturday. The Finance Minister said coal gasification and liquefication will be encouraged by a rebate in revenue sharing, adding that production of coal bed methane (CBM) would be encouraged too.
Jindal Steel and Power Limited (JSPL) is India's first company to build a coal gasification plant and the world's first company to manufacture Direct Reduced Iron (DRI)/Steel through coal gasification, Jindal said.
"We have been requesting for it for a long time and the Prime Minister, too, stressed its significance last year," he said.
"These well-thought-out reforms indicate that government is well attuned to ground-based realities, which will help steer our economy out of the current Covid19 pandemic situation," Jindal said in a statement.
India has the world's third-biggest coal reserves. Coal gasification will help our country solve the chronic shortage of oil, gas, methanol, ammonia, and urea Jindal said.
"In addition to reducing the current account deficit (CAD) by minimizing unnecessary imports, this would also create jobs for millions of people in the country, boost the economy and encouraging clean coal technologies that use coal in an environmentally friendly manner," he added.