Coal & Oil mulls acquiring coal mines in Indonesia

By Denny H. Tarigan

Dubai-based leading trader Coal & Oil Company LLC, through its Indonesia unit PT Coal & Oil Indonesia, is mulling an opportunity to acquire coal mines in Indonesia to secure coal supply for its power plant project in India.

The source told Petromindo.Com that the company is expecting at least to double coal volume import from overseas for trading activity, including from Indonesia by 2013.

Indonesia is supplying around 80% of the company?s last year total coal import of 5-6 million tonnes with the rest sourced from Australia and South Africa, the source said. ?This year, the import volume wil be same as last year?s figure,? the source said, without giving the name of suppliers

According to the company?s website, Coal & Oil has formed its power flagship called Coastal Energen Pvt Ltd (ENERGEN), which is setting up a 1,200 MW coal-fired power plant in Tuticorin, Tamil Nadu state, India.

Editing by David Mustakim