India’s Mercator Lines is planning to develop a coal mine in the Batuah region of Kalimantan province in Indonesia.
Mercator will form a joint venture with Indonesia’s PT United Coal to develop the infrastructure for the mining project, according to the Economic Times.
The company is expected to invest up to Rs2.5bn ($50m) for the proposed mine development and PT United Coal will have the ownership of the mine.
Mercator Lines chairman HK Mittal said that the firm owned four coal mines in Indonesia and was keen to build its ownership.
The total reserves in the Indonesian mines owned by Mercator Lines is about 70 million tons and the company plans to raise the total deposits to 100 million tons.