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Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES


Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Africa, US with a annual production capacity of 10-15 millions tonnes," Coal India Chairman P S Bhattacharyya told reporters here.

However, he did not divulge the time-frame of these buy outs.

Asked about the rationale for demanding a hike in coal prices, he said, "It will happen because wage revision has been very substantial for both workers and executives. There is no sense in allowing the bottomline to shrink."

The company has been demanding a hike in coal prices, which, it says, are almost half the international prices.

Coal India has a capital expenditure plan of Rs 3,200 crore for this fiscal and aims to increase production by 7.5 per cent to 435 million tonnes over the previous year.
Source: Business Stanadard



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Recent News

Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...


Monday, 31 August 09
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The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...


Sunday, 30 August 09
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Friday, 28 August 09
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