PTC India eyes coal block in Indonesia

Indian state-owned Power Trading Corp PTC India Ltd has revived its plans to acquire small coal mine in Indonesia.

Chairman and Managing Director, PTC India Tantra Narayan Thakur said that the company is trying to rope in a partner, which may be an Indian player or local company in Indonesia.

?The partner should have experience of mining coal block,? Thakur said as quoted by Business Line.

This would be the company's fourth attempt, as previous projects were not given a go-ahead by its board which Thakur said was due to the sense of insecurity. He said the company then had identified coal blocks for acquisition in Indonesia and Australia and the proposals were placed before the company board. ?However, the board could not arrive at a consensus,? it said. (*)