Monnet Ispat close to acquiring Indonesian coal mine
Thursday, March 17 2011 - 05:58 PM WIB
Indian firm Monnet Ispat is close to acquiring a coal mine in Sumatra with completion seen this week, sources close to the development confirmed as quoted by Indian media.
The announcement of the coal mine acquisition may come in early next week.
Coal from the Indonesian mine will be utilized for Monnet Ispat's merchant power plant of about 2000 MW. The company is already setting up a 1050 MW plant in Orissa for which the coal will be sourced from its domestic mines. The company forayed into merchant power business through its subsidiary Monnet Power.(*)