Coal India Limited has signed a joint venture agreement (JVA) with BHEL on date. To form a Joint Venture Company to undertake Coal to Chemicals business by initially setting up a Coal to 2000 TPD Ammonium Nitrate Plant using BHEL's in-house developed PFBG (Pressurized Fluidized Bed Gasification) technology, Shareholding, if any, in the entity with whom the agreement is executed, Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc.:, a. Equity shareholding shall be 51% with CIL and 49% with BHEL, b. The Joint Venture Company shall be incorporated as a "Private Limited" Company with an Initial paid-up share capital of INR 1,00,000 (INR One Lakh only), c. The registered office of the JVC shall be situated in the state of Odisha, India, d. Board of Directors: BHEL and CIL shall have the right to nominate three (3) Directors each on the Board of the JVC, Whether, the said parties are related to promoter/promoter group/group companies in any manner. If yes, nature of relationship: Both (BHEL and CIL) are Central Public Sector Enterprises (CPSEs), 6, Whether the transaction would fall within related party transactions?

If yes, whether the same is done at "arm's length, No. In case of issuance of shares to the parties, details of issue price, class of shares issued: Shares shall be issued after incorporation of JVC in the ratio of equity shareholding. 8. Any other disclosures related to such agreements, viz., details of nominee on the Board of Directors of the listed entity, potential conflict of interest arising out of such agreements, etc: BHEL and JVC shall execute an agreement for Coal to Syngas Island /Gasification Plant on LSTK (Lump Sum Turn Key) basis, using BHEL's PFBG (Pressurized fluidized Bed Gasification) Technology after finalization of Detailed Feasibility Report (DFR).

CIL to ensure offtake of at least 75% of rated annual production capacity of the Project, envisaged in the Pre-Feasibility Report (PFR), subject to acceptance of quality and prices on mutually acceptable terms, as agreed after finalization of DFR.