Electrosteel Castings Ltd has entered into a JV agreement with Dart Energy Ltd for the purpose of its captive Parbatpur coal mine degassing project Degassing is a safety requirement for working the mine.

The company intends to make this JV self sustainable by realizing benefits of the economy benefits of the methane and that include the eligible Clean Development Mechanism (Carbon Credits) benefits.

The JV will extract methane incidental to coal mining from the 8.8 square kilometers Parbatpur Coal Mining Lease area of the Company. The Company will own a 70% Equity Stake in the JV and Dart will hold the remaining 30% stake.

The Parbatbur mine is located in the Jharia Basin within the coal rich state of Jharkhand in eastern India.

Dart Energy is a specialist degassing Company, Headquartered in Singapore and listed on Australian Stock Exchange including, has its operations in 8 countries including Asian Countries India, China, Indonesia and Vietnam.