Monday, June 13,
Essar Group is looking forward to acquire more coal and iron ore assets in Indonesia, Australia and Africa to meet its domestic Indian need for resources, said Chief Executive Officer Prashant Ruia.
Indian companies including Essar , Tata Power and Reliance Power are also expanding overseas to meet its energy needs.
“We believe that Indonesian coal is a natural fit for India, for power generation in the country, because India is short in power requirements and the import of coal is only going to increase over time,” Ruia said.
Essar agreed last year to buy the Aries coal mines in Indonesia’s East Kalimantan province to secure supplies for its power plants, the Mumbai-based company said March 2010. The areas, which hold as much as 100 million metric tons of power- station coal, may start output within a year, Essar said at the time.
Source: The Economic Times
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