Coal India eyes foreign JV to raise output

State-run Coal India Ltd said on Monday it was open to a joint venture with a foreign company as it looks to raise production from underground mines.

By PTI | Dec 10, 2007, 08.12 PM IST

NEW DELHI: State-run Coal India Ltd said on Monday it was open to a joint venture with a foreign company as it looks to raise production from underground mines.

"Unless I share profits, I can't expect a company to come here and work with us for 10 years. Based on a fee payment ... there is no interest," Chairman Partha Bhattacharjee said in an interview on the sidelines of a coal conference.

The company wants to increase its underground coal production to 75 million tonnes by 2011/12 from the current 45 million.

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