India's Reliance Buys Indonesian Coal Mines

Indian energy company Reliance Power has bought a 100 percent stake in three Indonesian coal mines with total reserves of two billion metric tonnes, according to local reports.

The company intends to invest around US$1bn over the next eight to ten years to develop mines and set up logistics facilities.

The acquisition was made by Reliance Coal Resources Private, a wholly-owned subsidiary of Reliance Power.

By staff writer