Axis Energy plans ₹30,000 crore investment in underground coal gasification, eyes technology acquisition.

Axis Energy Ventures is close to acquiring technology for underground coal gasification (UCG), according to its Chairman and Managing Director, Kataru Ravi Kumar Reddy, who spoke recently.

The Hyderabad-based firm is among two companies selected for coal blocks aimed at producing gas through UCG, the other being Reliance Industries. The Ministry of Coal recently announced that Axis Energy Ventures has secured the dip extension of the Belpahar and Tangardihi East coal mines in Odisha.

Dip extensions refer to deeper sections of existing coal mines where conventional mining is challenging, making gasification the most viable method of extraction. Meanwhile, Reliance Industries has been awarded the Recherla and Chintalpudi coal mines in Andhra Pradesh.