After selling his polyester chips and yarn manufacturing units Shubhalakshmi Polyesters to Reliance Industries for Rs 1,592 crore this year, Shubhalakshmi Group managing director Ajay Agarwal has teamed up with entrepreneur Balasaheb Darade and angel investor Gopi Latpate to foray into coal gasification.

The three, along with some other domestic and international investors, are setting up a 5-million metric tonnes per annum (mmtpa) coal gasification project in Chandrapur, Maharashtra, at an investment of $2.5 billion under