India?s Emco acquires stake in Indonesian coal mine
Wednesday, May 28 2008 - 11:27 PM WIB
Indian firm Emco Limited, primarily focused on the transmission and distribution segment of the power sector, plans to foray into coal trading business and has tied up for coal supply from Indonesia, Chairman and Managing Director Rajesh Jain said Wednesday as quoted .
The company will source coal for its proposed trading business from Indonesian coal mine company PT Bina Insan Sukses Mandiri, where it will acquire 37.35 per cent stake by virtue of Emco's arrangement with Singapore's Rabaan (S) Pte Ltd.
Bina Insan operates a coal mine in East Kalimantan, spread over 5,000 hectares and has an estimated coal reserve of 105 million tonnes.
"We will start getting coal from this mine in the next three-four months," Jain said. (*)