The proposed sum would be invested over a period of 30 years.

According to media reports, this project will utilize deep coal reserves in the Chintalapudi and Recherla blocks to produce synthetic gas (syngas).

The proposal builds upon Reliance's acquisition of these blocks under the government's commercial coal mining auctions earlier in 2026.

The project not only represents a major milestone in India's clean energy transition but would also mitigate the dependence on imported energy feedstock, supporting the domestic manufacturing of chemicals, methanol, and synthetic fuels.

The project aims to kick off exploration later this year if early findings look promising, the reports said.

Reliance Industries is India's largest private sector company with businesses spanning digital services, retail, oil-to-chemicals, exploration and production, new energy and consumer products.

The company's consolidated net profit increased 6.12% YoY and 12.66% QoQ to Rs 23,196 crore in Q1 FY27. The figure includes the share of profit from associates and joint ventures. Gross revenue rose 24.50% YoY and 4.60% QoQ to Rs 3,40,257 crore in the June 2026 quarter.