Indonesian govt. recently liberalized its coal mining legislation, effectively allowing foreign firms to invest directly in their coal mines. This move has facilitated lot of Indian companies, especially majors like NTPC have picked up stake in Indonesian coal blocks. ICVL, a special purpose vehicle promoted by SAIL, Coal India, NTPC, NMDC, RINL have also shown keen interest to pick up stake.
GMR Energy, a subsidiary of GMR Infrastructure has acquired PT Barasentosa Lestari, Indonesian coal company for Rs.4000 million. This acquisition will help to firm up supplies for its upcoming 1500 MW thermal plant in west coast. The company is currently scouting for plant location in Maharashtra and Gujarat. The acquired coal mines and licensing will produce 5 MT of coal and has estimated reserves of 100 million tonnes. The company is also looking for more mines in Indonesia and in South Africa for its power plants.
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