Jharkhand nod to over Rs. 2 billion ONGC mining project
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Jharkhand nod to over 2 billion ONGC mining project

Monday, 22 September 2003, 07:00 Hrs
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RANCHI: The Jharkhand government has given its nod to the Oil and Natural Gas Corporation (ONGC) for a 2.15 billion project to mine coal bed methane (CBM) in three districts of the state.

According to sources in the chief minister's office, ONGC chairman Subir Saha met Chief Minister Arjun Munda in New Delhi and proposed the mining of CBM, found in large quantities in the state.

The project will cover 340 sq.km in Hazaribagh, 95 sq.km in Bokaro and 84.5 sq.km in Jharia in Dhanbad district.

In the first phase, ONGC will invest 400 million in Jharia, 260 million in Bokaro and 230 million in Hazaribagh for the first two years. In the second phase, lasting four years, it will invest 220 million in Hazaribagh, 660 million in Jharia and 480 million in Bokaro.

Experts put the quantity of CBM deposits in the state at 150 billion cubic metres.

The project includes mining, production and sale of CBM in two phases. The state will get 10 per cent as royalty.

The sources said the chief minister has requested the ONGC chairman to open an office in Jharkhand and appoint a nodal official for the project.

They said ONGC will dig 90 wells in Jharia and has identified the site for eight borewells and two exploratory wells.

The chief minister has shown keen interest in the project and requested ONGC authorities to expedite the project, the sources said.




Source: IANS
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