Indian firms eyeing Indonesian coal mines

Indian steel company Surana Industries Ltd (SIL), is close to acquiring a coal mine in Indonesia to source coal for its integrated steel plant at Raichur, an Indian media reported Saturday

Munnoth & Co, a Singapore-based firm of chartered accountants, is doing the due diligence for Surana and will submit a report by December-end. Surana plans to acquire the mines early next year.

Meanwhile, another Indian firm, the Sajjan Jindal-controlled JSW Energy is reportedly close to acquiring more than two coal mines in Indonesia and Australia.

Sources said the company has finished due diligence of these mines. (*)