Indian power companies accelerate acquisition of overseas coal mines
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Author:cnliket
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Published time: 2020-05-22
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Indian power industry giant Reliance Power will invest US $ 1 billion to acquire and develop a large coal mine in South Sumatra, Indonesia.
India's "Business Line" reported on the 2nd that the newly acquired coal mine of Reliance Power mainly produces high-quality sub-bituminous coal exclusively for steam power generation, with proven reserves of 2 billion tons and recoverable reserves of 1.2 billion tons. Put into production. The coal production of this coal mine will mainly supply two large power stations in India's Andhra Pradesh and Maharashtra. Among them, the installed capacity of the power station in Andhra Pradesh is 40 million kilowatts, which will be put into use in 2013.
Reliance Power is the second Indian company to search for coal resources in Indonesia. In 2007, Tata Power Company of India obtained a 30% stake in PTKaltim PrimaCoal, a large coal mine in Indonesia, and invested US $ 1.1 billion to include PTArutim Indonesia, another large mine in Indonesia.
Indian media reported that power shortages have become a bottleneck restricting India ’s economic development. Stimulated by domestic demand, Indian power companies have increased their efforts to acquire overseas coal mines.
