Adani signs $1.65 bn deal for coal from Indonesia | business | Hindustan Times
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Adani signs $1.65 bn deal for coal from Indonesia

business Updated: Aug 25, 2010 21:15 IST
HT Correspondent
HT Correspondent
Hindustan Times
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India’s largest thermal coal importer, Gautam Adani-led Adani Enterprises on Wednesday announced it will set up a $1.65-billion project in Indonesia to source coal for its Indian power projects.

The proposed project involves a 250-km dedicated railway line to transport coal from the mine to a new port which the company will build. The coal would then be shipped to India.

The project has a concession period of 30 years, and will be completed in 48 months.

The Adanis have entered a tripartite agreement with the Regional Government of Sumatra Selatan , and PT Bukit Asam, an Indonesian government coal mining company, to execute the project, AEL said in a statement here.

Indonesia-based AEL subsidiary PT Adani Global has a large coal mining set-up in East Kalimanthan and the Sumatra initiative will strengthen its coal sourcing reach.

AEL’s power arm Adani Power Ltd is setting up coal-based power projects in Gujarat and Maharashtra, and has plans for MP, Chhatisgarh and AP.

In Gujarat, the group is setting up three power projects with capacity of around 10,000 MW. It is targeting 20,000 MW of power generation and 200 MMTPA of coal mining by 2020.