Emmsons to form coal JVs with ETA Star International

Indian firm Emmsons International Ltd announced on Monday it had signed Shareholder's Agreement for the joint venture in mining and marketing of coal with ETA Star International LLC, Dubai.

Under the JV arrangement, the partnership will set up a company with the objective to finance development of Indonesian coal mining infrastructure and operations and conduct the coal mining business.

Another JV will be set up for offtake and marketing of coal internationally and a third company will be set up in Indonesia for providing mining services.

ETA will have 75 percent shares in the first two companies and 99.99 percent shares in the third company.

The company did not give further detail, but an Indian media reported in September 2007 that both companies would establish in Indonesia a JV called `Star Emmsons Resources` , which, at that time, was in process of acquiring coal mines in Kalimantan province.(alex)