Indian firm buy S. Sumatra coal mine

Indian firm GMR Energy is set to acquire an Indonesian mining company PT Barasentosa Lestari, TheTimes of India reported on Monday

V Subba Rao, CFO and president of GMR Infrastructure said, "We have lined up the debt and are waiting for government approval from Indonesia. The acquisition could be complete anytime in the next few weeks."

According to Rao, Barasentosa has 115 million tonne of coal reserves and Rao said.

Barasentosa has coal concession in South Sumatra. (*)