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CIL plans subsidiary for overseas ventures

NEW DELHI: Coal India Limited (CIL) is setting up a subsidiary, Coal India Videsh Limited (CVL), for foreign ventures. The proposal has been cleared by the CIL board and sent for necessary approval of the Coal Ministry, an official statement said on Wednesday.

CIL has identified Australia, South Africa, Indonesia, Mozambique, Zimbabwe and Russia as prospective destinations for initiating ventures of CVL.

Contacts have been established with the governments and High Commissions of these countries. — UNI

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