India cos to buy stake in Indonesia coal mine -paper
NEW DELHI, Aug 19 (Reuters) - Local engineering firm Subhash Projects and Marketing Ltd (SUBH.BO: Quote, Profile, Research) and power equipment maker Emco Ltd (EMCO.BO: Quote, Profile, Research) will jointly buy an 83 percent stake in Indonesian coal mine PT Bism, a newspaper reported on Tuesday.
The deal to buy a majority stake in the mine, which holds reserves of about 105 million tonnes, will be closed in a month's time, the Mint newspaper said, quoting Subhash Projects chairman Anil Sethi.
The coal would initially be sold to Indian clients until a 2,200 MW power project could be set up on India's east coast, the paper said, adding the location of the plant was yet to be identified. (Reporting by Nidhi Verma; Editing by Charlotte Cooper)
© Thomson Reuters 2010 All rights reserved
Economy seen growing at 7.2 pct in FY10 - govt
The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget. Full Article
Greek crisis sets euro zone enlargement back
The Greek debt crisis has dealt a setback to prospects of enlarging the euro zone by highlighting the difficulties of managing the single currency area. Full Article
India
US
UK
