just adding to that takeover thought................MMTC plans...

just adding to that takeover thought................

MMTC plans to acquire coal mines abroad
MMTC Ltd, an international trading house owned by the Indian Government, plans to acquire coal mines in Indonesia and Australia and also enter into long-term agreements with suppliers of fertiliser raw materials in South Africa.
Speaking at a press conference here on Saturday, MMTC's Chairman and Managing Director, S. Kapoor, said the company hoped to finalise the deals on the coal mines in these two countries as and when it found something attractive - from the point of price and ease of transportation.

Coal prices are softening now, because of which the company hopes to finalise a deal as and when something attractive comes up. The ideal size for a mine would be 50 million tonnes (mt).
MMTC also hopes to acquire interests in a coal mine in India, he said. The company is a leading importer of coal for the country's power utilities as well as steel plants.

Kapoor said that MMTC would tie up with a mining company for the coal mines. A number of mining companies have leases for coal mines and they are also prepared to offer MMTC a stake in these mines. The company is mulling importing steam coal from Indonesia and metallurgical coal from Australia.

It is also looking to acquire interests in raw materials sources for the fertiliser industry - rock phosphate and phosphoric acid - from Africa. MMTC is open to the idea of picking up equity stakes in some companies. MMTC is in discussions with some leading producers of these commodities for a long-term tie-up, said A. R. Goyal, Director (Marketing), MMTC. It is in talks with a company in Africa for rock phosphate.

Kapoor explained that MMTC was attempting to acquire interests in raw material sources such as coal and sources for the fertiliser industry, as their demand in India would continue to grow. Also, all global trading companies have interests in raw materials sources.

Another area that MMTC hopes to capitalise on is carbon trading. Kapoor said the 1.1 million tonnes (mt) company's steel plant - Neelachal Ispat Nigam Ltd in Orissa - uses the latest technology and hence qualifies for carbon trading. MMTC also plans to assist some of the smaller companies in the country in carbon trading and earn revenues out of this. Kapoor said MMTC hopes to earn "a few million dollars a year" from carbon trading at the Neelachal steel plant alone.

The company will also develop free trade warehousing zones in six places - Greater Noida, Kandla, Ennore, Mumbai, Haldia and Kochi.

Source: Sify Finance

how big is GCL! a nice size indeed.......cheers PC