Indian, Malaysian firms in JV to mine Indonesian coal

Indian steelmaker Surana Industries is floating a joint venture with a Malaysian company- Agate Group- for mining of coal in Indonesia, Indian media reported on Wednesday.

Managing Director Dinesh Surana told a press conference that Surana will have 49 per cent equity in the joint venture. He did not give detail about the mine's location or capacity.

The coal mined would be shipped to India for use in the Surana Industries integrated steel complex coming up at Raichur in Karnataka, he said.

The company proposed to import five million tonnes per year from Indonesia, he said.(*)