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Nava Bharat Ventures acquires stake in Zamibian company
21 December 2009: Nava Bharat (Singapore) Pte, a unit of Nava Bharat Ventures, has signed a deal to acquire in Maamba Collieries, Zambia.
The company has acquired a 65 per cent stake in Maamba Collieries at an initial acquisition price of $26 million (approx Rs 121.68 crore). Maamba Collieries will set up a 2X150 MW power plant while it holds 130 million tonner of total mineable reserves.
Source: DNA