Reliance Power has acquired three coal mines in South Sumatra and Indonesia. It will invest USD 1 billion in mine exploration and logistics.
JP Chalsani, CEO, Reliance Power told CNBC-TV18 that payment for the acquisition is linked to actual production of coal and the three mines have total coal resources of 2 billion metric tonne.
Coal resources will be used for Krishnapatnam UMPP and Shahpur. Reliance Power can mine up to 40 mt per annum coal from these three mines.
No comments:
Post a Comment