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Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA


Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company is taking the mine on a develop, operate and market model.

Speaking to reporters after announcing the results here on Wednesday, vice chairman and managing director N Srinivasan said the company would sign the agreement in two weeks. The mine would be for captive purpose.

Initially, it would produce 40,000-50,000 tonne a month and this would be ramped up to 100,000 tonne after one year. The company’s present requirement is around 800,000 tonne of coal per annum for cement alone. This is likely to go up by another 400,000 tons in two-three years when its greenfield plant in Rajasthan and other expansion plans are complete. The company imports around 600,000 tonne of coal every year, he said.

Speaking about the power business, Srinivasan said the company had identified ThyssenKrupp as an EPC (engineering, procurement and construction) partner for the two projects coming up in Tamil Nadu and Andhra Pradesh. The first project is expected to go on stream by March 2011 and second by September 2011. The two projects, with a capacity of 50 mega watt each, involve a cost of around Rs 500 crore
(US$ 105,942,333) - 1 USD = 47.1955 INR
Source: Business-Standard



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Recent News

Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...


Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...


Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...


Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...


Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES * RECAPITAL CONFIRMS IT HAS BID FOR BERAU * BAKRIE GROUP LIKELY TO BACK BID – SOURCES ...


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