Birla firm eyes coal assets in Indonesia

Essel Mining, which is part of the Indian conglomerate Aditya Vikram Birla group, is set to acquire coal assets in Indonesia, The Telegraph reported on Friday.

The report said the company may acquire a coal block having deposits of about 50 million tonnes and the deal is expected in January.

Going by present valuations, the block may cost Essel $200-250 million. It is likely that the company will go solo in this project. (*)