The Sajjan Jindal group company, JSW Energy is likely to acquire a
sub-Saharan African coal mine which has total reserves of 200 million tonne.
Besides making full-fledged acquisitions, the firm is also in talks with the
African Government for jointly developing coal mines.
The company is likely to invest $70-100 million (approx Rs 350-500 crore)
depending on the quality of coal in the mine. The acquisition, if successful, is
likely to be funded through a mix of internal accruals and debt. JSW would use
the coal for its upcoming power plants in Karnataka (600 MW), Rajasthan (1,080
MW) and Maharashtra (1,200 MW) in India.
Also See:
JSW Energy
plans major capex in current fiscal (16-Apr-09)