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R. Power buys coal mines in Indonesia

NEW DELHI: Anil Dhirubhai Ambani owned Reliance Power Ltd. on Friday acquired three coal mines in Indonesia with total reserves of two billion tonnes.

According to an official statement here, the acquisition was done through its wholly-owned subsidiary Reliance Coal Resources Private Ltd (RCRPL), which plans to invest Rs. 2,400 crore in mine and related transportation infrastructure, to take the capacity of these mines to over 25 million tonnes annually.

Reliance Coal Resources had acquired 100 per cent economic interest in three coal concessions in Indonesia. RCRPL has acquired Srivijaya Bintangtiga Energy, Bryayan Bintangtiga Energy and Sugico Pendragon Energy in the South Sumatra area of Indonesia spread over an area of 40,000 hectares. The coal from the mines would be supplied to Reliance Power’s 4,000-MW Ultra Mega Power Project at Krishnapatnam in Andhra Pradesh and also to the Shahapur power project in Maharashtra, the release adds. Payment for the acquisition is linked to the actual production of coal.

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