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Sasol willing to acquire minority stake in CTL JV with Coal India Ltd and NMDC

Livemint. Sasol Ltd has expressed its willingness to acquire a minority stake in a coal-to-liquids joint venture with Coal India Ltd (CIL) and NMDC Ltd, a little more than one year after it formed a 50:50 venture with Tata Steel Ltd for a similar project.

Sasol is pursuing global opportunities to commercialize its coal-to-liquids technology through its arm, Sasol Synfuels International (Pty) Ltd. The company’s readiness for a second joint venture was conveyed during coal minister Sriprakash Jaiswal’s recent visit to South Africa, according to Partha S. Bhattacharyya, CIL’s chairman.

The Union government has already awarded a coal block near Talcher in Orissa to the Sasol-Tata Steel venture that was formed in early 2010. It is expected to be operational by 2018 and could produce 80,000 barrels of liquid fuel a day, Sasol’s India head Mark Schnell had said soon after the unit had been set up.

Comments

Henry Gibson

At least one more country besides China, that has coal, has taken action to avoid the speculative price increase forced upon the world by oil speculators. It would be cheaper to import coal from Australia than to pay the extortionary prices for oil that are kept in place by the speculators. ..HG..

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