Emmsons, Dubai's ETA Star in coal mining JV in Indonesia
The venture is named Star Emmsons Resources. The company is in the process of acquiring coal mines in Kalimantan province of Indonesia, and expects to start production in the coming months.
By INDIATIMES NEWS NETWORK |
MUMBAI: Emmsons International has signed an agreement with Dubai-based ETA Star to form a joint venture for coal mining operations in Indonesia.
The venture is named Star Emmsons Resources. The company is in the process of acquiring coal mines in Kalimantan province of Indonesia, and expects to start production in the coming months.
The JV will help leverage coal supplies for the independent power producers.
The $4 billion ETA Star is planning to set up 1,200 megawatt coal-based power plants in south India. The power generation project requires investment of Rs 6,000 crore and 5 million tonne of imported coal.
Emmsons International shares closed up 20 per cent at Rs 56.40 on BSE.
The venture is named Star Emmsons Resources. The company is in the process of acquiring coal mines in Kalimantan province of Indonesia, and expects to start production in the coming months.
The JV will help leverage coal supplies for the independent power producers.
The $4 billion ETA Star is planning to set up 1,200 megawatt coal-based power plants in south India. The power generation project requires investment of Rs 6,000 crore and 5 million tonne of imported coal.
Emmsons International shares closed up 20 per cent at Rs 56.40 on BSE.
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