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CIL to buy up Indonesian co

Power & New and Renewable Energy
June 1, 2011June 1, 2011
CIL to buy up Indonesian co
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Coal India is in advanced talks to buy up to 40 per cent stake in Indonesia's Golden Energy Mines in a deal valued at between $750 million and $1 billion. Golden Energy is a coal mining subsidiary of energy firm Dian Swastatika Sentosa, and is estimated to have 400 mt of reserves. Meanwhile, Reliance ADA Group will invest between $5-10 billion in mining infrastructure in Indonesia.

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