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Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES


Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1600 MW super-critical thermal power project in coastal Maharashtra, a top company official said.

"We are looking for a strategic stake purchase in coal mines either in Indonesia or in South Africa for our 1600 MW super-critical thermal power project in Dherand-Shahpur in coastal Maharashtra," Tata Power Executive Director S Padmanabhan told PTI here today.

"We need 6-8 million tonnes of coal to fuel the 2x800 MW plant. So we will not go for buying an entire coal mine. But based on the size of the mine, we will acquire a stake that will assure 8-9 million tonnes of coal supply," he said.

The company has a 30 per cent stake in KPC mine in Indonesia that supplies 12-14 million tonnes of coal to its 4000-MW Mundra Ultra Mega Power Project, he said.

The Indonesian mine produces 55-60 million tonnes of coal annually.

The company requires 1,000 acres land for the Rs 9,000- crore (US$ 1.916 Billion) Dherand -Shahpur project and the process for acquiring land is on.

Meanwhile, the company has launched a computer literacy programme for the youngsters in the villages around the project area and taken steps to provide clean drinking water, he said. (1 INR = 0.0212920 USD)
Source: Economic Times



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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...


Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...


Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...


Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...


Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...


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