Madhucon to buy 2nd coal mine in Indonesia
Thursday, June 7 2007 - 02:24 AM WIB
Indian firm Madhucon Projects Ltd is looking to buy the second coal mine in Indonesia with around 50 million tonnes of reserves, Indian media reported on Thursday.
The media reported that Madhucon had earlier acquired a coal block in East Kalimantan on a 30-year lease with reserves of 50 million tonnes.
No further detail was provided.
The move is part of the company?s strategy to aggressively foray into power generation in India using imported coal as feedstock.(*)