Adani Group today said it has inked a Memorandum of Understanding (MoU) with an Australia-based firm Carbon Energy to form a joint venture to pursue Underground Coal Gasification (UCG) projects in India.

"The two firms have inked a MoU for a strategic joint venture, where they shall jointly be bidding in tendering process for UGC projects likely to be announced on tenements of Coal India (CIL),