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News Brief | December 2012

Tata Power buys 26% in Baramulti Sukses

To ensure fuel security for its upcoming power plants Tata Power Company has acquired  a 26 per cent stake in the Indonesian coal mine PT Baramulti Sukses Sarana Tbk (BSSR).Tata Power. The company's current market capitalisation is 5,07,601 crore Indonesian Rupiah or Rs 2,875 crore. Based on this, Tata Power's deal may be worth around Rs 750 crore. The transaction would help the company source coal from BSSR and its subsidiary PT Antang Gunung Meratus (AGM), which together have reserves of 1 billion tonne of coal in mines located in south and east of Kalimantan in Indonesia.Prior to the deal, Tata Power signed a long-term coal supply agreement with AGM in July. Tata Power MD Anil Sardana said in a statement that the company recognise fuel security as a key to support Tata Power's growth agenda.

The official hopes that the Talcher and Simhadri stations will start production again in a few days. According to data from Tamil Nadu Transmission Corporation, the Tangedco's sister entity, the quantum of load shedding (in mu) went up from just 8.735 mu on November 1 to 36 mu on November 4 to about 70 mu on November 7. On an average, the State requires 240 mu a day.
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