RI the most preferred destination for acquisition of thermal coal assets

By Adianto P. Simamora

Indonesia, the main supplier of thermal coal to India, would remain the most preferred destination for acquisition of thermal coal assets for Indian companies, according to Executive Director & Chief Operating Officer, International Coal Ventures Limited, Ajay Mathur.

?Indonesia is the nearest and most preferred destination for acquisition of thermal coal assets (for Indian companies),? Marthur in his recent presentation said.

It said that the other preferred countries for thermal coal assets are Australia, South Africa and Mozambique.

While for the acquisition of coking coal, Indian companies preferred Australia, Mozambique USA, Canada and New Zealand.

Data from Mathur shows Indonesia contributed about 70 percent of thermal coal or about 48 million tons to India?s total import last year, adding that geographical proximity of Indonesia makes it attractive for a price sensitive country like India.

?Australia to become the next important source (of thermal coal for India). Major Indian investments have been made in Australia already,? Marthur said.

Editing by David Mustakim