Coal India eyes mine acquisitions in Indonesia

India?s state-owned Coal India Ltd (CIL) is actively looking at as many as five proposals for acquisition of mines in Indonesia amid domestic shortage of coal supply, local reports said Monday.

?Coal India is examining four to five proposals and they all are in Indonesia,? according to Coal Ministry sources.

The sources, however, refused to give a timeline as to when they are likely to be finalized.

Coal India in September had said that it invited an expression of interest inviting global companies to offer overseas assets.

?In pursuant to the Government of India?s guidelines to acquire raw material assets abroad, a notice inviting proposal offering overseas coal assets to CIL was floated. A number of proposals has been received and are being evaluated,? the company had said.

Coal Minister Sriprakash Jaiswal earlier said that acquisition of coal mines overseas should be done in an aggressive manner to meet the country?s energy requirements. (*)