New Delhi, March 25 -- GAIL (India) Limited and Coal India Limited on Tuesday announced the formation of a joint venture, Coal Gas India Limited, to expand the use of synthetic natural gas. The company has been set up with an authorised share capital of Rs 11 crore, as per a notification to the stock exchanges.

Coal India will hold a 51 per cent stake in the venture, while GAIL will own the remaining 49 per cent. The main objective of this collaboration is to develop and enhance the necessary infrastructure for processing coal into synthetic natural gas.

This includes captive coal mining, coal beneficiation, coal imports, equipment procurement, and setting up related facilities.

The move comes at a time when global coal policies are ev...