Coal India invites bids for acquiring assets abroad

Tags: Coal India, News
Coal India Ltd today invited bids from bankers and interested parties for acquiring assets

RELATED ARTICLES

abroad, a move that would help the world's largest dry-fuel producer meet shortages as it battles problems in enhancing output.

"Coal India Seeks Expression of Interest (EoI) from investment bankers, owners/owner's representatives for acquisition of coal assets abroad," CIL said.

The bids have been invited by Coal India Videsh, set up with the intent of enhancing the nation's energy security.

Coal Minister Sriprakash Jaiswal had said recently that acquisition of coal mines overseas should be done in an aggressive manner to meet the country's energy requirements.

In order to tide over the fossil fuel shortages, the government is also proposing to import coal and pooling domestic and international prices.

Meanwhile, CIL has already started process for assessing the reserves of its mines in Mozambique and has already invited bids for taking up drilling at the blocks.

Two coal blocks - A1 and A2 - at Motaize, in Tete Province of Mozambique, are spread over 200 sq km and their exploration may take over two years, as per CIL.

The demand-supply gap of coal was 161.5 million tonne (MT) last fiscal and is estimated to go up to 200 MT in 2016-17.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • 49 per cent FDI in defence should pave the way for modernisation

    There is one industrial sector in India that has been kept out of the purview of the normal cycle of investment and production — defence.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Necessary yet inadequate boost to education

The finance minister, in the very first minutes of his ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture