India's Aditya Birla eyeing Indonesian coal mining venture

Indian conglomerate Aditya Birla Group, will issue a mandate to a bank in the next few weeks to look for investments in Indonesian coal mines, Bloomberg reported

Aditya plans to invest in mines producing thermal coal, used in power stations, and will consider taking stakes in existing mines or funding new capacity, said Ravi Kastia, group executive president, at a Metal Bulletin conference in Beijing. He declined to name the investment banks competing. (*)