CIL board clears 10 proposals for strategic partnership or JVs
14 Mar 2010, 1219 hrs IST, REUTERS
KOLKATA: Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures with 10 overseas mining companies to bring coal from abroad to plug the country's demand supply gap.
"The CIL board has given the go ahead to 10 proposals for strategic partnership or JVs with international mining companies," Coal India chairman Partha S Bhattacharyya told media here. "Our main objective is to make imported coal available in the country at a cheaper price," he said.
Refusing to name the companies, he said that they were from Australia, the US and Indonesia. Bhattacharyya said that CIL planned to bring 40 to 45 million tonne of coal from abroad through these strategic partnership or JV.
He said that some of the mines abroad were ready while some others would have to be developed and hoped to bring coal from these ventures from the next fiscal.
The coal major, he said, was exploring three different business models, entering into long-term coal supply pacts, going for outright purchase of mining assets or operating mines jointly with owners.
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