Power Today |
 
Advertise Here [728 W x 90 H pixels]
Web Exclusive | March 2013

CIL considers proposals to buy overseas assets

Reports indicate that Coal India (CIL) has set eye on coal assets in Indonesia, Mozambique, Australia, South Africa and Colombia among other areas for acquisition.

It may be recalled that the state-run miner plans to invest a maximum of Rs 35,000 crore on acquisitions of coal mines. CIL tried to buy assets belonging to USA’s Peabody Energy, Massey Energy and Indonesia’s Sinar Mas in 2010, but after protracted discussions and due diligence, nothing materialized.

At present, the company has two overseas mines in Mozambique and exploration has started at these mines. Production at the mines may start in 2016, reports indicate.

It is learnt from media reports that the firm is considering 15 proposals for buying overseas assets. The company is, however, expected to proceed with caution so that it’s not questioned about valuations in the future.

Post your comment
Name:  
Email:    
Comments:  
Verification Code:   Change Image

 

Posted Comment
1 .     Yogesh Says:
17 Oct 2016
I wish to start pvc / pp electric wire unit in Delhi. What kind of information I can get if I subscribe for your magazine

2 .     Sarfaraj Bilakhiya Says:
20 Sep 2016
Pls invite me all auction in gujarat

3 .     k.natarajan Says:
20 Jun 2016
we are doing business developing for solar power ,thermal power , customer supporting and we have 45 mw splar power on hand needs investors..... thanks lot pls call +910842559230 +919842753550


Advertise Here [728 W x 90 H pixels]