37938 Investors following Tata Power. Share this News with them.
0
Like this story, share it with millions of investors on M3
Tata Power eyes Aussie, Indonesia coal mines
Indian utility Tata Power Co Ltd is in talks to buy coal mines in Australia, Indonesia and South Africa to tie up fuel supplies for its proposed 15,000-megawatt capacity expansion, a top official said, reports Reuters.
Indian utility Tata Power Co Ltd is in talks to buy coal mines in Australia, Indonesia and South Africa to tie up fuel supplies for its proposed 15,000-megawatt capacity expansion, a top official said, reports Reuters.
The company, which supplies power to the financial hub of Mumbai, India's capital New Delhi and to smaller cities, is pursuing projects that will be fired by a hybrid mix of fuels such as coal, natural gas, water and other liquid fuels.
"We want to get into coal and in India the coal sector has not yet been privatised so we are looking overseas," Adi Engineer, a director at Tata Power , told Reuters in an interview on Thursday.
The company has tied-up with Tata Steel Ltd, India's largest steel producer, to hunt for coal mines overseas. Shares in Tata Power rose more than 2% to Rs 509.90 on the news in a firm Mumbai market.
The company has tied-up with Tata Steel Ltd, India's largest steel producer, to hunt for coal mines overseas. Shares in Tata Power rose more than 2% to Rs 509.90 on the news in a firm Mumbai market.
