Kolkata based Subhash Projects and Marketing (SPML) has started mining at its
coal block in Indonesia.
PT Bism mine in Indonesia reportedly has reserves of over 100 million tonne.
SPML intends to export the coal to all across Asia, including India. It is
likely to begin dispatching coal by January 2010.
In November 2009, the Indonesia Government had proposed a plan to cap the
export of coal at 150 million tpa to meet the demand of local companies. The
plan could come into force in 2010. Once the ban comes into force, SPML is
likely to supply about 25-30 per cent of the coal to local companies and export
the rest.
In 2008, SPML had acquired the PT Bism mine along with EMCO for about $40
million (approx Rs 184 crore). While SPML holds 55 per cent stake in the mine,
the remaining is with EMCO.
Also See:
SPML
bags orders worth Rs 277.71 cr (10-Nov-09)