Reliance Industries shares up 3% on coal liquefaction project
Shares of Reliance Industries rose over 3 per cent on reports the company plans to build a $8 billion coal liquefaction project at Talcher in Orissa.
By INDIATIMES NEWS NETWORK |
MUMBAI: Shares of Reliance Industries rose over 3 per cent on reports the company plans to build a $8 billion coal liquefaction project at Talcher in Orissa.
Reliance has asked the Indian government for permission to mine three coal blocks with reserves of 1.6 billion tonne that are currently operated by state-run Mahanadi Coalfields Ltd, the report said.
The company wants to produce 80,000 barrels a day of liquid fuel. Reliance has signed agreements with US-based KBR Inc. and Headwaters Inc. for using the technology, the report said.
At 3:16 pm, Reliance shares were up 2.81 per cent at Rs 3,216 after hitting a high of Rs 3,36.
Reliance has asked the Indian government for permission to mine three coal blocks with reserves of 1.6 billion tonne that are currently operated by state-run Mahanadi Coalfields Ltd, the report said.
The company wants to produce 80,000 barrels a day of liquid fuel. Reliance has signed agreements with US-based KBR Inc. and Headwaters Inc. for using the technology, the report said.
At 3:16 pm, Reliance shares were up 2.81 per cent at Rs 3,216 after hitting a high of Rs 3,36.
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