![]() Adani Group keen on more Indonesian coal blocksPublished on Mon, Sep 08, 2008 at 08:34 | Source : Business Line Updated at Mon, Sep 08, 2008 at 08:42
Ahmedabad, Sept. 7: Keeping in tune with its ambitious plans to set up a 10,000-MW, coal-based thermal power capacity by 2011-12, the Adani Group is in an advanced stage of negotiation to acquire more captive thermal coal blocks in Indonesia.
"We are looking for acquisition of more coal reserves in Indonesia and are in an advanced stage of negotiations with a few parties," the Group Chairman, Mr Gautam Adani, told Business Line in an interview here. "We prefer Indonesia as a destination due to its proximity to the Indian shores resulting into lower freight cost and voyage time," he said. The alternative destinations under consideration are in Africa. According to Mr Adani, the Group is aiming to have a captive coal reserves - having an annual production capacity of over 40 million tonnes in the next five to six years. contd on page 2...
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