India’s first producer of natural gas from coal seams in the country’s oldest mining region will spend about $1 billion to look for some of the newest forms of energy. Great Eastern Energy Corp. Ltd will invest as much as Rs 20 billion ($312 million) over the next four to five years to drill 144 new wells at its Raniganj block in the eastern state of West Bengal, according to chief executive officer Prashant Modi.
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