Adani to buy Australian coal miner's assets for Rs 4,200 cr-Metals & Mining-Ind'l Goods / Svs-News By Industry-News-The Economic Times:
"NEW DELHI: Adani Enterprises is likely to buy Australian firm Linc Energy's coal assets in Queensland for about Rs 4,200 crore and an official announcement is expected on Tuesday.
'The coal deposits have estimated reserves of 1 bn tonnes and would cost the Indian firm an estimated one billion Australian dollars (Rs 4,200 crore),' a source in-the-know of the development said, adding that an announcement of the same could be made tomorrow.
'Adani needs imported coal to feed its coast-based power projects,' the source said, adding that as part of the deal, the domestic diversified entity will also develop a port in Australia to ship the coal to India."...................
'The coal deposits have estimated reserves of 1 bn tonnes and would cost the Indian firm an estimated one billion Australian dollars (Rs 4,200 crore),' a source in-the-know of the development said, adding that an announcement of the same could be made tomorrow.
'Adani needs imported coal to feed its coast-based power projects,' the source said, adding that as part of the deal, the domestic diversified entity will also develop a port in Australia to ship the coal to India."...................
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