Gujarat NRE Coking Coal Limited will invest $500 million into its coal operations in the Illawarra.
The Indian company owns two hard coking coal mines which produce about 1.3 million tonnes a year, but that should increase to about 6 million tonnes over the next five years.
Gujarat employs about 450 people and hopes to employ 150 more with the expansion.
New areas will be opened up, longwall mining will be extended and some underground access roads will be built.
All of the coal produced from the two mines is exported through Port Kembla Coal Terminal to India.
The demand for coking coal in India is expected to double over the next 10 years.
CWK Price at posting:
32.7¢ Sentiment: Hold Disclosure: Held
